Crude Oil 4 Hour Price Update
Updated February 11, 2021 01:52 AM GMT (09:52 PM EST)
46.6 was the closing price of the four-hour candle for Crude Oil, resulting in the current 4 hour candle being one in which price moved down 0.32% ($0.15) from the last 4 hour candle. Those trading within the energy commodity asset class should know that Crude Oil was the worst performer in the class the current 4 hour candle.
Crude Oil Daily Price Recap
Crude Oil is up 0.55% ($0.32) since yesterday, marking the 8th consecutive day an upward move has occurred. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 3rd since yesterday in terms of percentage price change. Here is a daily price chart of Crude Oil.
Crude Oil Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 10 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Crude Oil:
- From Ian_H_Lundin:
IEA says India will be the largest source of energy demand growth over next two decades.India’s oil demand is expected to rise to 8.7M bpd in 2040, up from 5M bpd in 2019. India currently imports about 76% of its crude oil needs, but that is expected to rise to 90% by 2030.
- From cchukudebelu:
Nigeria’s elite have been looking for a replacement for crude oil rents – i.e. an source of easy money with minimum effort.They weren’t smart enough to take full advantage of Telecoms, & they thought Power and Agriculture would perform the same “magic”.Nothing for them yet.
- From AabidMagami:
July 2008 : crude oil price was $132.47 per barrel, Petrol was priced at Rs. 50.62 per litre.February 2021: crude oil is priced at $59.78 per barrel, while petrol is at an all-time high of Rs. 90 /Litre.#PSU_PSB_Sale
For a longer news piece related to CL1 that’s been generating discussion, check out:
We examine the impact of the recent rise in Brent crude price on fuel prices in India….India imports of 80 per cent of its crude oil requirements and the average price of Indian basket of crude oil has already risen to $54.8 barrel for January.