Having lost $6.45 over 3 days, Today is looking a bit better: West Texas crude trades at $85.64 per barrel, after ending yesterday at $86.16.
United States Core Consumer Prices is next.
WTI crude's state is reflected by market data as United States Crude Oil Inventories beat analyst expectations of 1.36 million and the previous reading of -3.12 million with new data of 3.92 million. United States 10-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.14, while the previous figure was 3.93. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of -923,000, while the previous figure was 1.27 million.
Crude Oil's upper Bollinger Band® is at $92.22 and the lower is $82.47.
Despite muted price action in US crude oil, 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 Consumer Price Index is expected today at 13:30 UTC. United States Core Consumer Prices figure is projected at 0.5%. It previously stood at 0.6%; data will be released today at 13:30 UTC. United States Consumer Price Index is expected today at 13:30 UTC.
WTI crude is now trading 30.95% below the significant high of $124.77 it set around 8 months ago.