WTI crude oil is trading around $80.11 per barrel, after closing the previous week at $80.11 per barrel (down 0%) .
Crude Oil drifts up 0% to close at $80.11 per barrel today. (Trade West Texas crude with FXTM now).
Uptick comes while some more positive signs for WTI crude are out as highly important Initial Jobless Claims data from United States beat analyst expectations of 225,000 with a reading of 222,000.
On the flip side, United States Crude Oil Inventories fell short of the -440,000 projections, with new data of -5.4 million.
Meanwhile, United States Existing Home Sales (Oct) released today at 15:00 UTC with a figure of 4.43 million, while the previous figure was 4.71 million. United States Philadelphia Fed Manufacturing Index (Nov) came out at -19.4, while a consensus of analysts was expecting -6.2. United States Building Permits (Oct) released yesterday at 13:30 UTC with a figure of 1.53 million, while the previous figure was 1.56 million.
Outlook for rest of the week: Today's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.5%; data will be released Wednesday.
Also worthy of note, as things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 225,000, following on from the preceding figure of 222,000. New data is set to be published Wednesday.
Furthermore, the market is looking at United States New Home Sales (Oct) is scheduled for Wednesday.