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June 14, 2023
US crude oil trades at $69.49 per barrel, after ending yesterday at $69.42.
United States Producer Price Index is next.
This uncertain state for US crude oil is reflected by published market data as United States Consumer Price Index came out at 0.1%, while a consensus of analysts was expecting 0.2%. United States Consumer Price Index released yesterday at 12:30 UTC with a figure of 4%, while the previous figure was 4.9%. United States Core Consumer Prices came out at 0.4%, while a consensus of analysts was expecting 0.4%.
Crude Oil's upper Bollinger Band® is at $75 and the lower is $67.52.
Despite muted price action in WTI crude oil, chart analysis indicates it is positioned for a bullish run in the short term.
Meanwhile, mixed performances are seen in other Energy as Brent Crude Oil trades around $74.43, with no major change. Heating Oil trades close to $2.4, with no major change.
Moreover, United States Crude Oil Inventories is projected to outperform its last figure with 1.48 million, having previously been at -451,000. The figure will be published today at 14:30 UTC. Today at 12:30 UTC data for United States Producer Price Index will be released, with an expected decline to -0.1% from the preceding figure of 0.2%. United States Retail Sales expected to decline to -0.1% while its preceding data was 0.4%, data will be available tomorrow at 12:30 UTC.
WTI crude hit a significant low of $67.25 around 2 days ago, but has since recovered 3.23%.
