Mixed sentiment sees Brent crude ending the day broadly flat; establishes tight $86 to $86.43 range

Published: January 26 2023, 06:30 GMT+0

Mixed sentiment sees Brent crude ending the day broadly flat; establishes tight $86 to $86.43 range

Brent Crude Oil trades at $86.16 per barrel, after ending yesterday at $86.12.

ICE Brent crude's state is reflected by market data as Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million. United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories released yesterday 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 closed at $2.91 (down 5.12%). Crude Oil trades with no major change, around $80.44.

Furthermore, the market is looking at United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released today at 13:30 UTC. United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC. United States Core PCE Price Index (MoM) (Dec) scheduled to come out tomorrow at 13:30 UTC.

A month ago, Brent crude oil fell to a low of $76.1 but has since recovered 13.17%.

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