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WTI crude oil settles at $78.39

WTI crude oil settles at $78.39

The price of WTI crude oil is settling the day at $78.39. That's up $0.98 or 1.26%.

Recall from yesterday, the weekly oil inventory data showed a huge build of 14 million barrels, but that didn't stop buyers from squeezing the shorts to the upside.

Looking at the hourly chart, the price moved away from its 200 are moving average yesterday, and today extended above the 61.8% retracement of the move down from the January high. The high price in January came in on January 3 at $81... Read More

Posted: Jan 12 2023, 20:12
Author Name: forexlive
Views: 110521

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