Down -$.12 or -0.19%
The price of crude oil futures settle at $62.46. That is down $.12 or -0.19%.
The high for the day reached $62.99 while the low extended to $62.05. The price was pushed lower after a large build in inventories of 7238K. The expectation was for a draw of minus 800K. The private API data late yesterday did show a build of 3000K. So there was a small expectation of a gain.
Although the price did reach down toward the $62.00 level, the price did stay above the 200 day MA at $61.66. Yesterday, the price moved above the 200 day moving average for the 1st time since October 2018. Staying above that MA keeps the bulls in control. Move below and the buying may start to slow (more selling).
