Pres. Trump is saying that they will fill up the Strategic Petroleum Reserves (SPR) when the price is right.
The price of crude oil is up $0.56 or 0.86% at $65.67. The price remains within a range between $64 on the downside and $66.33 on the upside (see the chart below). In between, sits the 100-hour moving average which currently comes at $65.24.
The price in crude oil has been finding support buyers against that 100-hour moving average in trading today, giving the buyers a short-term bias advantage. Moving below would shift the bias back to the downside.
