It's been more of the same this session on the back of 5 days of flat trade, Today's session so far looks to be heading in a similar way — ICE Brent crude trades at $79.33 per barrel, after ending yesterday at $79.31.
United States JOLTs Job Openings (Mar) is next today at 14:00 UTC.
Uncertainty around Brent crude oil is reflected by published market data as United States ISM Manufacturing PMI (Apr) released yesterday at 14:00 UTC with a figure of 47.1, while the previous figure was 46.3. United States ISM Manufacturing Prices (Apr) came out at 53.2, while a consensus of analysts was expecting 49. United States ISM Manufacturing Employment (Apr) came out at 50.2, while a consensus of analysts was expecting 47.9.
Brent Crude Oil's upper Bollinger Band® is at $88.39 and the lower is $76.76.
Despite muted price action in ICE Brent crude, chart analysis indicates it is positioned for a bullish run in the short term.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Crude Oil Inventories is projected to outperform its last figure with -1,000,000, having previously been at -5 million. The figure will be published tomorrow at 14:30 UTC. United States Interest Rate is expected tomorrow at 18:00 UTC. United States ADP Nonfarm Employment Change (Apr) is scheduled for tomorrow at 12:15 UTC.
10 months ago ICE Brent crude reached a significant high of $123.6 but has consequently lost 35.83% since then.