Energy traders focused on West Texas crude as it powers 1.45% higher

Yesterday at a glance: after ending Thursday at $71.83, Crude Oil went up to $73.05 only to drop back, yet still traded well overall and closed at $72.87 per barrel yesterday.

Nevertheless, highly important Core Durable Goods Orders data from United States beat analyst expectations of 0% with a reading of -0.2%.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 193,100, while the previous figure was 191,500.

This rally in US crude oil's price coincides with other Energy as Heating Oil is trading around $2.38 after ending yesterday's session at $2.35 (up 1.24% today). Notably, Brent Crude Oil rose 1.21% yesterday and closed at $76.26.

While West Texas crude is appreciating, other Energy are comparatively not doing so well — Natural Gas draws back 4.72% yesterday and closed at $2.31.

West Texas crude hit a significant low of $68.25 around 24 days ago, but has since recovered 5.25%.