Bearish WTI crude oil currently $1 lower after trading as low as $78.15

Crude Oil is down to $78.15 per barrel, after ending yesterday at $79.16. Overall, a 1.28% loss or $1 today.

United States Philadelphia Fed Manufacturing Index (Apr) is next today at 12:30 UTC.

Highly important Crude Oil Inventories data from United States beat analyst expectations of -1 million with a reading of -4.58 million.

Amid the market gloom, United States 20-Year Bond Auction released yesterday at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909. United States Cushing Crude Oil Inventories came out at -1 million, while a consensus of analysts was expecting 622,000.

Taking a look at other Energy commodities, negative performances are evident as Brent Crude Oil is trading around $82.08 (down $1.04). After ending yesterday's session at $2.56, Heating Oil lost 2.97 cents and is trading around $2.53.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as today at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 240,000 from the preceding figure of 239,000.

Furthermore, United States Philadelphia Fed Manufacturing Index (Apr) is expected today at 12:30 UTC. United States Existing Home Sales (Mar) will be released today at 14:00 UTC.

Having soared to a high of $122.09 approximately 10 months ago, WTI crude oil is now trading 35.16% lower.