Crude oil is settling the day up $0.33 on the day at $61.53. The high today reached $61.84. The low was at $60.06.
For the trading week, the price is closing down marginally by about – $0.34 or -0.54%. The high for the week was at $64.14. The low was at $60.06.
The decline this week was the first in 3 weeks as expectations of another OPEC+ production increase and concerns and uncertainty about growth given the tariffs environment weighs on price as well.
Technically, the price action this week was above and below the 100/200 hour MA (blue and green lines). Those MAs come in near $61.66 (converged). The price is closing below those MAs tilting the bias more to the downside at the end of the week. However, the MAs will be the barometer for buyers and sellers next week. Trade above is more bullish. Trade below is more bearish.
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