After closing the previous trading day at $86.93, US crude oil is up to $88.25 per barrel, which makes for a move of 1.52%/$1.32 today.
United States ISM Manufacturing PMI (Oct) is next today at 14:00 UTC.
Meanwhile, United States OPEC Crude Oil Production Algeria (Barrel) released yesterday at 15:00 UTC with a figure of 1 million, while the previous figure was 1 million. United States OPEC Crude Oil Production Congo (Barrel) released yesterday at 15:00 UTC with a figure of 270,000, while the previous figure was 260,000. United States OPEC Crude Oil Production Gabon (Barrel) released yesterday at 15:00 UTC with a figure of 200,000, while the previous figure was 200,000.
Japanese candlestick formations show 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end.
This rally in WTI crude's price coincides with other Energy as Heating Oil surges 7.21% to trade around $4.49.
Other Energy are showing mixed performance as Brent Crude Oil moves 0.43% to trade around $95.24.
Also worthy of note, as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 267,000, following on from the preceding figure of 2.59 million. New data is set to be published tomorrow at 14:30 UTC.
Furthermore, the market is looking at United States Interest Rate figure is projected at four. It previously stood at 3.25; data will be released tomorrow at 18:00 UTC. United States ADP Nonfarm Employment Change (Oct) is scheduled for tomorrow at 12:15 UTC.
WTI crude reached a significant high of $124.77 around 7 months ago but has lost 30.33% since then.