Crude Oil (CL1) Down $0.15 in Last 4 Hours, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days

Crude Oil 4 Hour Price Update

Updated February 17, 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 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

Crude Oil came into today up 0.98% ($0.58) from the open of the previous day, marking the 2nd consecutive day an upward move has occurred. Out of the 6 instruments in the energy commodity asset class, Crude Oil ended up ranking 2nd for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Crude Oil’s price has gone up 21 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

Over on Twitter, here were the top tweets about Crude Oil:

  • From Charlie1691:

    To all you people who voted for Joe Biden ….. At this hour Crude Oil is up at $1.03 on the spot market to a whopping $60.50 per barrell..! This represents an 8% increase in less than 24 days. On Inauguration Day oil was $53.28/barrell. Thank you Joe and all who voted for him

  • From mantequilla70:

    @ksorbs False
    U.S. fossil fuel exports began to decline in 2020, before Joe Biden took office. These changes were brought about by a historic decline in the demand for — and cost of — crude oil. The COVID-19 pandemic, not the actions of any U.S. president, was the cause of those trends.

  • From Mayorspeaks:

    Abdulrasheed Bawa is AGF Malami’s cousin, he was arrested by Magu EFCC for Oil Theft and yet Buhari is about to make him EFCC next Chairman.Me: EFCC is to be head by Northerners alone, Nigeria is only united by crude oil, sea port and air port in the southern region.

As for a news story related to Crude Oil getting some buzz:

Crude oil price hits 13-month high – TODAY

The upswing in oil prices came as the federal government yesterday unfolded plans to stop gas flaring in the next four years….FG Sets Four-year Target to Eliminate Gas Flaring The federal government yesterday unfolded plans to stop gas flaring in the next four years….Minister of State for Petroleum, Chief Timipre Sylva, at a public hearing on “Need to End Gas Flaring in Nigeria and Harness Associated Gas in Nigeria organised by the House of Representatives Joint Committee on Gas Resources, Environment and Climate Change, said in Abuja that Nigeria would join the global community in achieving the complete elimination of gas flaring by 2025….Mutu Nicholas, stated that Nigeria loses over $750 million in annual revenue from flared gas.