Home / Forex Treiding / Crude oil settles at $70.37 up $1.12 on the day

Crude oil settles at $70.37 up $1.12 on the day

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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.


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