The excessive value prolonged as much as $69.83. The low value traded to a brand new low going again to December 2021 at $65.38. On Wednesday, the low value reached $65.65. Yesterday the low value backside simply above that degree at $65.71.
For the buying and selling week, the worth of crude oil is down -13.30% or $-10.20. That is the biggest one week decline since April 2020. The settlement value was simply above the 200 week shifting common at $66.14. Subsequent week, the 200 week MA will likely be a key barometer for patrons and sellers. Keep above the MA degree is extra bullish. Transfer beneath will likely be extra bearish.
Crude oil futures are closing simply above its 200 week MA