Mixed sentiment sees Brent crude ending the day broadly flat; establishes tight $85.41 to $87 range

Published: January 25 2023, 22:10 GMT+0

Mixed sentiment sees Brent crude ending the day broadly flat; establishes tight $85.41 to $87 range

A mostly flat day so far for Brent Crude Oil, ranging between $85.41 and $87; currently at $86.18 per barrel.

This uncertain state for Brent crude oil is reflected by published market data as highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000. United States 5-Year Note Auction released today at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories released today at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

Meanwhile, mixed performances are seen in other Energy as Natural Gas is trading around $3 (down 25.8 cents). After ending yesterday's session at $3.43, Heating Oil lost 7.2 cents and is trading around $3.36. Crude Oil trades close to $80.41, with no major change.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States GDP will be released, with an expected decline to 2.6 from the preceding figure of 3.2. Projections for United States Initial Jobless Claims are set for a continuation of decline with 205,000 while previous data was 190,000; data will be released tomorrow at 13:30 UTC.

Brent crude hit a significant low of $76.1 around a month ago, but has since recovered 13.18%.

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