West Texas crude trades at $77.54 per barrel, after ending yesterday at $77.58.
United States ADP Nonfarm Employment Change (Feb) is next.
Uncertainty around West Texas crude is reflected by published market data as United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -3.83 million, while the previous figure was 6.20 million. United States 3-Year Note Auction came out at 4.635.
Crude Oil's upper Bollinger Band® is at $80.38, suggesting that a downward move may follow.
Despite the market lacking direction, technical chart analysis strongly suggests West Texas crude is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen in other Energy as Heating Oil moves 0.21% to trade around $2.8. Brent Crude Oil moves 0.13% to trade around $83.4.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States ADP Nonfarm Employment Change (Feb) is scheduled for today at 13:15 UTC. United States Crude Oil Inventories expected to decline to 395,000 while its preceding data was 1.17 million, data will be available today at 15:30 UTC. United States JOLTs Job Openings (Jan) will be released today at 15:00 UTC.
West Texas crude is now trading 37.82% below the significant high of $124.77 it set around a year ago.