Mixed sentiment sees Brent crude oil ending the day broadly flat; establishes tight $86.13 to $86.43 range

Published: January 26 2023, 02:00 GMT+0

Mixed sentiment sees Brent crude oil ending the day broadly flat; establishes tight $86.13 to $86.43 range

Without a clear-cut direction, Brent Crude Oil is trading around $86.23 per barrel and ranging between $86.13 and $86.43.

This uncertain state for Brent crude oil is reflected by published market data as following a previous reading of 8.41 million, Crude Oil Inventories in United States released yesterday at 15:30 UTC fell short of the 971,000 figure expected by analysts with an actual reading of 533,000. 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 came out at 4.27 million.

Meanwhile, mixed performances are seen in other Energy as after ending yesterday's session at $3.07, Natural Gas lost 13.6 cents and is trading around $2.93. Crude Oil trades with no major change, around $80.47.

Moreover, projections for United States Core Durable Goods Orders are set for a continuation of decline with -0.2% while previous data was 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) will be released tomorrow at 13:30 UTC.

After hitting an important low of $76.1 approximately a month ago, Brent crude has bounced back 13.17% since.

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