ICE Brent crude gains 1.21% within $75.72 to $77.35 daily range

Published: May 27 2023, 09:21 GMT+0

ICE Brent crude gains 1.21% within $75.72 to $77.35 daily range

Yesterday at a glance: Brent Crude Oil ended Thursday at $76.26. yesterday it went up to $77.35 only to drop back, yet still managed to close at $77.18 per barrel.

Nevertheless, data from United States concerning Core Durable Goods Orders was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 0.3% to -0.2% this month.

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.

Rallies can also be seen in other Energy, Crude Oil ascends 1.45% yesterday and closed at $71.83. Notably, Heating Oil rose 1.24% yesterday and closed at $2.35.

While ICE Brent crude is higher so far today, these Energy commodities are underperforming: Natural Gas slips 2.34% yesterday and closed at $2.48.

Brent crude hit a significant low of $72 around 24 days ago, but has since recovered 5.93%.