Down -$0.92 or -1.32%
The price of crude oil is settling the week down -$0.92 or -1.32% at $68.69.
The high reached $69.77. The low extended to $68.26.
Technically, the price support is down at the 100 day MA. That MA comes in at $67.60. In July, the support level held on the tests. Stay above next week will be more bullish. Move below, and more selling may be eyed.
The inventory data this week showed a larger than expected draw of inventory (-6147K vs -3000K expected). The price moved higher but the high for the week, could not take back the $70 level. The high yesterday - and for the week - reached $69.92.
