WTI Crude Oil Price Pulls Back to $86.71 as US Market Data Mixes

The WTI crude oil price pulled back from its session highs of about $87.57 to trade at around $86.71 on Friday.

This move came despite the oil price remaining above the 100-hour moving average line, indicating that it still has room to run before reaching oversold levels on the 14-hour RSI.

From a fundamental perspective, the light crude oil price is trading during a relatively busy period in the US market.

The Philadelphia Fed Manufacturing Survey for August came in better than expected at 47.4 versus a forecast of 25, up from the previous month's equivalent of 41.4.