Mixed sentiment sees West Texas crude ending the day broadly flat; establishes tight $79.45 to $81.23 range

Published: January 25 2023, 21:25 GMT+0

Mixed sentiment sees West Texas crude ending the day broadly flat; establishes tight $79.45 to $81.23 range

Tentatively higher from an earlier low of $79.45, Crude Oil is up to $80.5 per barrel today, adding 37 cents, or 0.46%, to yesterday's closing price of $80.13.

WTI crude's state is reflected by market data as United States Crude Oil Inventories published today at 15:30 UTC came out at 533,000, falling short of the 971,000 projections and continuing its decline from the previous 8.41 million figure. 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. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

Moreover, United States Core Durable Goods Orders expected to decline to -0.2% while its preceding data was 0.1%, data will be available tomorrow at 13:30 UTC. United States GDP projected to decline to 2.6 while previous data was 3.2; data will be released tomorrow at 13:30 UTC. United States Initial Jobless Claims projected to come out at 205,000 — worse than previous data of 190,000; data will be released tomorrow at 13:30 UTC.

Having set a significant low of $71 a month ago, WTI crude oil is trading 12.83% higher.

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