After closing the previous trading day at $75.67, WTI crude oil is up to $79.87 per barrel, which makes for a move of 5.55%/$4.2 today.
United States ISM Manufacturing PMI (Mar) is next today at 14:00 UTC.
Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Analysis based on the asset volatility indicates that US crude oil's upper Bollinger Band® is at $80.46, this is a slight indication of a slowdown.
With market volatility ebbing, the current technical outlook indicates WTI crude oil will remain range-bound for the immediate future.
Rallies can also be seen in other Energy, having closed the previous session at $2.62, Heating Oil is up 3.13% today to currently trade at around $2.7.
While WTI crude oil is higher so far today, these Energy commodities are underperforming: Natural Gas is down 15 cents from the beginning of the session and now trades around $2.07.
Other Energy are showing mixed performance as Brent Crude Oil trades around $79.77, with no major change.
Elsewhere, United States ISM Manufacturing PMI (Mar) scheduled to come out today at 14:00 UTC.