Down -$1.29 or -2.83%
So much for the large draw down in inventories yesterday.
The price of crude oil is settling down -$1.29 or -2.83% to $44.23
The low reached as low as $43.78. The high extended to $45.42.
For the week, the price is down. Last week the price went out around $46.33. The high for the week reached $47.32 on Tuesday before starting to move back lower. Yesterday, the inventory data took the price up to a high of $46.53, but when the price fell back below the 100 hour MA at $46.21, the buyers turned to sellers. Today, the action was choppy but the trend continued lower. The low for the day at $43.78 is also the low for the week.
