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WTI crude oil settles at $77.41

WTI crude oil settles at $77.41

The price of WTI crude oil settled at $77.41. That is up $2.29 or 3.21% on the day. The gains come in the face of a huge build in inventories today of 18.962M barrels in the current week. That was well above the expectations of a 2.2M draw, but was explained away due to the closures of refineries due to extremely cold weather. The private data estimated a build of around 14M, so it was not a huge surprise.

Technically, the price after the data release moved below the 200 hour MA, but... Read More

Posted: Jan 11 2023, 20:05
Author Name: forexlive
Views: 111479

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