Little changed on the day
The price of crude oil is settling at $68.91 which is down -$0.08 or -0.12%.
The high reached $69.72 today. The low reached $68.53. The low was reached after Russia’s Novak said that may look into the possibility of increasing production by 1BPD at the next OPEC meeting.
Technically, the futures are settling right around the 100 day MA once again. The 100 day MA comes in at $68.89 (just 2 cents from the MA level). The market has traded above and below that MA in 4 of the last 5 days as the market ponders the next moved. The high in September reached 71.40. The low reached $66.86 so far.