ICE Brent crude trades at $95.24 per barrel, after ending yesterday at $94.83.
United States ISM Manufacturing PMI (Oct) is next.
This uncertain state for Brent crude is reflected by published market data as 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. Fresh OPEC Crude Oil Production Congo (Barrel) data from United States came out at 270,000. Fresh OPEC Crude Oil Production Gabon (Barrel) data from United States came out at 200,000.
Brent Crude Oil's upper Bollinger Band® is at $97.94, suggesting that a downward move may follow.
Despite the market lacking direction, technical chart analysis strongly suggests Brent crude oil is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen in other Energy as Heating Oil is up 7.21%. Crude Oil rises 1.53% to trade around $88.26. Natural Gas is down to $6.23, losing 12.4 cents, after closing at $6.36 in the preceding trading session.
Furthermore, the market is looking at United States Crude Oil Inventories projected to come out at 267,000 — worse than previous data of 2.59 million; data will be released tomorrow at 14:30 UTC. United States Interest Rate is expected tomorrow at 18:00 UTC. United States ADP Nonfarm Employment Change (Oct) is scheduled for tomorrow at 12:15 UTC.
Brent crude oil is now trading 26.56% below the significant high of $129.12 it set around 7 months ago.