After closing the previous trading day at $78.16, WTI crude is up to $79.05 per barrel, which makes for a move of 1.14%/89 cents today.
US crude oil is currently trading at $79.05 following the release of ISM Non-Manufacturing PMI (Feb) data from the United States.
This move comes while some more positive signs for WTI crude oil are out as United States Initial Jobless Claims came out at 190,000, better than analyst estimates of 195,000 and improving upon the previous reading of 192,000.
Meanwhile, United States ISM Non-Manufacturing PMI (Feb) came out at 55.1, while a consensus of analysts was expecting 54.5. United States ISM Non-Manufacturing Employment (Feb) released today at 15:00 UTC with a figure of 54, while the previous figure was 50.
Crude Oil's upper Bollinger Band® is at $80.24, this is a slight indication of a slowdown.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates US crude oil is set for a reversal in the coming days.
A look at other Energy also shows upside as having closed the previous session at $2.77, Natural Gas is up 3.4% today to currently trade at around $2.86. Heating Oil improves 1.17% to trade around $2.9. Brent Crude Oil is up 0.67% to $85.32.
WTI crude reached a significant high of $124.77 around 11 months ago but has lost 37.36% since then.