Crude Oil Futures Settle At $ 61.28

Up $ 1.53 or 2.56%

The price of the WTI crude oil futures contracts is $ 61.28. That’s up $ 1.53 or 2.56%.

Today’s high price hit $ 61.99. The low price spread to $ 59.24.

The gains come despite a huge increase in inventories of 21.563 million barrels. The gains reflect the rebound in arctic cold that swept through the United States.

Looking at the hourly chart, the settlement price was below the 100 and 200 hour moving averages at $ 61.51 and $ 61.45 respectively. If the contract is able to stay below these moving average levels, sellers have more technical control at least in the short / medium term.


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