Crude Oil (CL1) Down $0.67 in Last 4 Hours; Came Into Today Down For the 4th Straight Day

Crude Oil 4 Hour Price Update

Updated September 08, 2020 03:07 AM GMT (11:07 PM EST)

Crude Oil came into the current 4 hour candle down 1.68% ($0.67) from the open of the previous 4 hours, marking the 4th candle in a row it has gone down. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 3rd since the previous 4 hours in terms of percentage price change.

Crude Oil Daily Price Recap

Crude Oil came into today down 1.68% ($0.67) from the open of the previous day, marking the 4th straight day a decrease has occurred. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 3rd since the previous day in terms of percentage price change. Below is a daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For another vantage point, consider that Crude Oil’s price has gone down 7 of the previous 10 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Crude Oil for the past day were:

  • From cchukudebelu:

    The way many of us view taxation is like; We used to make (X) from crude oil rents, now we are making (Y), so we need to increase non-oil tax by (X) – (Y) to make up for the shortfall.It is not that simple, taxation is also about a “social contract”.

  • From sarahmarb:

    #PonziModi Modi Govt. charges one of the highest taxes & cess on Petrol, Diesel & LPG in the world when the price of crude oil is the lowest in last 20 years. A Govt. designed to loot the poor & fill the coffers of the rich. Robin Hood in Reverse. 🤷‍♀️

  • From WCCanadian:

    @TheoFleury14 I’ll listen to it when world oil & gas demand ceases to exist. Crude oil is the #1 traded commodity in the world and we’re sitting on more than we need. Why shouldn’t we exploit it and prosper from it? We have to stop being ashamed of our natural resources.

For a longer news piece related to CL1 that’s been generating discussion, check out:

Venezuelan Cities Flooded With Water and Crude Oil Following Heavy Rains – Video – Sputnik International

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“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram