Crude OIL Live News

This page provides live coverage and news analysis on Crude OIL trading

Advertiser Disclaimer
Top8forexbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate.Prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Top8forexbrokers does not bear any responsibility for any trading losses you might incur as a result of using this data.
Top8forexbrokers or anyone involved with Top8forexbrokers will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Feb. 21, 2024

Commodity traders stay bullish as West Texas crude adds $1 or 1.32%

Live - Updated 14 minutes ago.

Overall, WTI crude oil had a 1.32% move or $1 today and is currently trading at $78.06 per barrel.

At the same time, United States API Weekly Crude Oil Stock released today at 21:30 UTC with a figure of 7.17 million, while the previous figure was 8.52 million. United States 20-Year Bond Auction came out at 4.595. United States Leading Index came out at -0.4%, while a consensus of analysts was expecting -0.3%.

Crude Oil made an initial breakout above its 10 day Simple Moving Average at $77.77, a potential indicator of a newly emerging bullish phase. Despite this, US crude oil is $1.43 away from testing key resistance at $79.49. Peaking above this level could inspire market bulls and open the path to further gains.

Overall, looking at the technical analysis landscape, it seems WTI crude might continue pointing upwards in the short term.

Rallies can also be seen in other Energy, Natural Gas skyrockets 13.07% to trade around $1.78. Having closed the previous session at $82.34, Brent Crude Oil is up 0.97% today to currently trade at around $83.14.

Also worthy of note, tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 217,000 from the preceding figure of 212,000.

Furthermore, the market is looking at United States Existing Home Sales (Jan) is scheduled for tomorrow at 15:00 UTC. United States Manufacturing PMI figure is projected at 50.1. It previously stood at 50.7; data will be released tomorrow at 14:45 UTC.

US crude oil has managed to gain 8.8% so far this year despite trading at lows around $67.25 previously.

follow us:

Week to date

WTI crude ends yesterday stable around $78.06 per barrel .

A good end to the trading week, Crude Oil is up to $78.06 per barrel, after closing yesterday at zero cents. Overall, a 0% move or $78.06 this week. (Start trading WTI crude at FXTM today).

WTI crude oil upside coincides with further encouraging market factors as highly important Producer Price Index data from United States beat analyst expectations of 0.1% with a reading of 0.3%. United States Initial Jobless Claims beat analyst expectations of 219,000 and the previous reading of 220,000 with new data of 212,000.

On the flip side, highly important Core Retail Sales data from United States beat analyst expectations of 0.2% with a reading of -0.6%. United States Retail Sales published Thursday came out at -0.8%, falling short of the -0.2% projections and continuing its decline from the previous 0.4% figure.

At the same time, United States Philadelphia Fed Manufacturing Index (Feb) released Thursday with a figure of 5.2, while the previous figure was -10.6.

Furthermore, the market is looking at United States Initial Jobless Claims projected to come out at 217,000 — worse than previous data of 212,000; data will be released tomorrow at 13:30 UTC.

Also worthy of note, United States Existing Home Sales (Jan) is expected tomorrow at 15:00 UTC. United States Manufacturing PMI is expected tomorrow at 14:45 UTC.