WTI Crude Oil futures traded higher for a third straight session, recovering from early week lows around the $60 level and pushing higher toward the $61 handle. The primary driving factor for the price action is a positive sentiment shift in the market, supported by better-than-expected purchasing managers data and strong consumer sentiment. Manufacturing data has also shown improvement in recent weeks. Despite the three-session rally, the general trend for WTI Crude Oil futures remains within a downward cycle when viewed from a longer-term perspective, maintaining a series of lower highs and lower lows and trading at the lower end of the multi-month range. Natural Gas futures also realized higher price action, retaking the $4 level.
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