Crude Oil is down to $84.58 per barrel, after ending yesterday at $85.47. Overall, a 1.04% loss or 89.2 cents today.
Consumer Confidence data from United States will be released today at 14:00 UTC with analysts expecting a decline to 106.5. Potentially significant price fluctuations in WTI crude are expected to follow.
Amid the market gloom, United States Services PMI came out at 46.6, while a consensus of analysts was expecting 49.2. United States Composite PMI released yesterday at 13:45 UTC with a figure of 47.3, while the previous figure was 49.5. United States Manufacturing PMI came out at 49.9.
In the meantime, Natural Gas moves 0.98% to trade around $5.25.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as projections for United States Consumer Confidence are set for a continuation of decline with 106.5 while previous data was 108; data will be released today at 14:00 UTC.
In addition, United States Crude Oil Inventories is projected to outperform its last figure with 200,000. It previously stood at -1.73 million; data will be released tomorrow at 14:30 UTC.
Furthermore, United States New Home Sales (Sep) scheduled to come out tomorrow at 14:00 UTC.
Approximately 7 months ago, WTI crude reached a significant high of $124.77 but has struggled to hold onto its gains and declined 31.5% since then.