Crude Oil (CL1) Down $0.15 in Last 4 Hours, Entered Today Up 1.53%; in an Uptrend Over Past 14 Days

Crude Oil 4 Hour Price Update

Updated July 06, 2021 01:53 AM GMT (09:53 PM EST)

Crude Oil entered the current 4 hour candle at $46.6, down 0.32% ($0.15) from the previous 4 hours. 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

76.31 was the closing price of the day for Crude Oil, resulting in today being one in which price moved up 1.53% ($1.15) from yesterday. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 2nd since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

Volatility for Crude Oil has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 10 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 deepakbedi26:

    Not sure if we get that dip marked on the chart but Crude Oil has run up bigly and a correction could be dueIf we do get that dip to 70 levels then buy in truckloads with a SL of 45 (monthly closing basis)1st Target – 480
    Pattern Target – 900** FOR LT INVESTMENT ONLY

  • From PWesterner:

    @thehill @DonaldJTrumpJr Who controls gas prices in the U.S.?
    What you pay at the pump is determined by the price of crude oil. The price of oil fluctuates based on supply and demand. The demand of oil fluctuates based on many factors and over three quarters of the supply is controlled by OPEC.

  • From hugopien:

    SA petrol price to rise by 27c/litre on Wednesday. Real concern is after averaging $73.5/bbl in June, Brent crude oil now above $77/bbl amid OPEC+ output stalemate. At R14.25/$, ZAR softer than ave. of R13.92/$ in June. If sustained, rand & oil = large petrol price hike in Aug.

In terms of news links for Crude Oil here’s one to try:

Crude Oil Prices Hit $75 as OPEC+ Meeting Stalls on Output Hike

Note: Low and High figures are for the trading day.