Commodities
WTI Crude Oil Price Rebounds Amid US Data Release
The WTI crude oil price rebounded from its session lows to trade at approximately $91.13 on Friday, following the latest US data release.
Despite this bounce, the light crude oil price remains below the 100-hour moving average line and has room to run before reaching overbought levels of the 14-hour RSI.
The rebound is notable given the recent US jobs data for September, which showed a decline in employment figures and an increase in unemployment rates.
The API weekly crude oil stock for last week fell by 1.019 million barrels, down from the previous week's equivalent of 1.786 million barrels.