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

Published: May 27 2023, 00:01 GMT+0

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

A quick look at yesterday: after ending Thursday at $76.26, Brent Crude Oil went up to $77.35 only to drop back, yet still traded well overall and closed at $77.18 per barrel yesterday.

On the flip side, United States Core Durable Goods Orders fell short of the 0% projections, with new data of -0.2%.

At the same time, United States Core PCE Price Index (MoM) (Apr) released yesterday at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3. United States CFTC Crude Oil speculative net positions came out at 193,100.

This rally in Brent crude's price coincides with other Energy as notably, Crude Oil rose 1.45% yesterday and closed at $71.83. Heating Oil went up by 1.24% yesterday, and closed at $2.38.

Meanwhile, Natural Gas slumps 4.72% yesterday and closed at $2.31.

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