Energy traders focused on WTI crude as it powers 0.68% higher

Marginally higher but lacking a clear-cut direction, WTI crude is trading at $71.35 per barrel after ranging between $71.26 and $71.5 today.

Nevertheless, highly important Producer Price Index data from United States beat analyst expectations of 0.3% with a reading of 0.2%. Initial Jobless Claims in United States fell short of market expectations (245,000) with a reading of 264,000, continuing the decline from the previous figure of 242,000.

At the same time, United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.50 trillion, while the previous figure was 8.50 trillion.

As the day gets underway, chart analysis suggests Crude Oil could be slowing down soon as it approaches resistance at $73.08. Of course, crossing it might suggest further gains are ahead.

Other Energy are showing mixed performance as Brent Crude Oil trades with no major change, around $75.41.

US crude oil is up 3.84% from the significant low of $68.25 it hit 9 days ago.