WTI crude oil futures settle at $64.44

Crude oil futures settle up $0.43 or 0.67%

The price of WTI crude oil futures is settling at $64.44. That is up $0.43 or 0.67%. The high price reached $64.96. The low extended to $63.10.

Crude oil futures settle up $0.43 or 0.67%_

Looking at the hourly chart, the price action today spent most of the time above its 200 hour moving average at $63.08, and below its 100 hour moving average at $64.95 the price also tested the 50% midpoint of the move up from the February 19 swing low to the high price seen on Monday. That midpoint comes in at $63.29.

The weekly inventory data showed a larger than expected build of inventories of 13.798M. That was the 2nd consecutive week of large builds (last week it rose by 21.563M).  Gasoline inventories, however, fell sharply for the 2nd consecutive week.  Last week inventories felt 13.624M barrels. This week, gasoline inventories fell -11.869M.  
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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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