Crude oil futures are settling at $64.98. That is down $0.01 or -0.02% from yesterday's settlement price of $64.99. The low price today reached $64.06. The high was at $65.16.
Technically intraday, the price traded above and below its 100-day moving average at $64.50. That remains a barometer for both buyers and sellers. Staying above would target $66.36 (50% midpoint), and the 200 day moving average at $66.83.
Fundamentally,
- Trump encouraged Turkey's Erdogan to stop buying Russian oil .
- EU officials also reportedly told Russia that they are ready to shoot down jets.
- Ukraine's naval drones attacked Russian oil pumping complex and terminal at Transneft.
- US oil producers reportedly also getting increasingly frustrating with the Trump policies and are threatening to cut back production. No drill, baby drill.
