The contract is up 1.62% on the day
The price of crude oil is settling up $1.12 on the day or 1.62% at $70.37.
The inventory data today showed a hefty -5296K draw (vs -2000K est). Hurricane Florence is also a minor influence – more on the potential demand side.
The high for the day reached $71.26. The low reached $69.50.
Technically, looking at the daily chart below, the price moved further away from the 100 day MA (blue line) at $68.86. That level is a risk/bias level. Stay above is more bullish.