API Inventories Release, Will Crude Oil Surge ?

Crude oil settled lower as a surge in COVID-19 infections raised. However, today's market focus on the global manufacturing PMI data; if the result is better than the market expectation, it could boost the oil to surge. Moreover, investors should keep an eye on the API data, which will be released at midnight on Wednesday. The markets are expected the US crude stockpiles may be seen falling further. Thus it may trigger the crude oil to soar toward the resistance level of 43.32/43.67. Conversely, if the result missed, the market's estimation could cause the price to slip down.