US crude oil is down 0.8%, trading at $70.29 per barrel

Crude Oil is down to $70.29 per barrel, after ending yesterday at $70.86. Overall, a 0.8% loss or 57 cents today.

United States Building Permits (Apr) is next today at 12:30 UTC.

Highly important Retail Sales data from United States beat analyst expectations of 0.8% with a reading of 0.4%.

On the flip side, highly important Core Retail Sales data from United States beat analyst expectations of 0.4% with a reading of 0.4%.

Meanwhile, United States API Weekly Crude Oil Stock came out at 3.69 million, while a consensus of analysts was expecting -1.3 million.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as today at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -920,000 from the preceding figure of 2.95 million.

Moreover, United States Initial Jobless Claims is projected to outperform its last figure with 254,000, having previously been at 264,000. The figure will be published tomorrow at 12:30 UTC.

Furthermore, United States Philadelphia Fed Manufacturing Index (May) scheduled to come out tomorrow at 12:30 UTC.

After hitting an important low of $68.25 approximately 14 days ago, US crude oil has bounced back 3.82% since.