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May 23, 2023
US crude oil gains 1.8%, putting it at the top of this list of commodities gainers.
Markets are mixed with Soybeans trades at $1,323.5 after losing 1.32%. Heating Oil goes up 1.08%, trading at $2.39.
Current market events are being influenced by ambiguous macro data as United States New Home Sales (Apr) released today at 14:00 UTC with a figure of 683,000, while the previous figure was 656,000.
+1.8%: bullish WTI crude oil runs out of steam at $73.76; currently at $73.35 per barrel
Todays session shows some improvement: after closing the previous trading day at $72.05, Crude Oil is up to $73.35 per barrel, which makes for a move of 1.8%/$1.3 today.
ICE Brent crude | +1.61% in mid-session
Brent crude oil has recovered 5.56% since descending to a significant low of $72 around 20 days ago.
After five days of declines, the Oats future is up $4.5 today
Today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. Marginally higher but lacking a clear-cut direction, Oats is trading at $319 per bushel after ranging between $312 and $322.75 today.
