The price of WTI crude oil futures are settling at $68.23. The high price reached $69.98. The low price extended to $66.12.
Crude oil futures close lower but have a strong bounce
At the session low, the price did dip below the 61.8% retracement of the December trading range from $60.42 to a high of $73.30. That level comes in at $66.58. The bounce of the last four trading hours has erased a lot about the declines but the price is still closing much lower on the day.
Concerns about the omicron effect on demand led to the sharp move to the downside.
