Crude Oil 4 Hour Price Update
Updated February 05, 2021 02:02 AM GMT (10:02 PM EST)
The back and forth price flow continues for Crude Oil, which started the current 4 hour candle off at 46.6 US dollars, 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 closed the day prior up 0.97% ($0.54); this denotes the 4th day in a row an upward move has occurred. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 3rd since the day prior in terms of percentage price change. Below is a daily price chart of Crude Oil.
Crude Oil Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 20 out of the past 30 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Crude Oil:
- From SpockResists:
In 2015 China surpassed the US in its share of world trade – historically a key indicator of a coming power shift in international order. It also overtook the United States as the world’s largest importer of crude oil, as the US became a net exporter on the back of the shale
- From DevelopmentPk:
In December 2020, with the withdrawal of $1 billion deposits, Pakistan’s foreign minister had said that KSA had to take this step due to a slump in crude oil prices.At the moment, it is unclear whether KSA would also revive the $3.2 billion deferred oil financing facility.
- From NeerajCNBC:
Global Market Cues 1/1
-All is well in global markets
-Asian indices opening mixed
-In US S&P 500 ekes out a small gain for its third positive day, Alphabet pops
-Brent crude oil holding positions
-Dow +36.12 to 30,724
-S&P +4 to 3830
-Nasdaq -2.23 to 1354
In terms of news links for Crude Oil here’s one to try:
Auwalu, who was making a presentation before the House of Representatives Ad-hoc Committee on Oil Theft in Abuja, also stated that Nigeria’s crude oil production and lifting were properly accounted for, while he provided clarifications on the process it uses for accounting for crude oil production in the country….He said: “Most of the thefts, they are coming from land terminals because the land producers have to use pipelines to transport the crude into the terminals for export….“And the theft volume, if not all, come from the land terminals….“We have two kinds of meters: we have production meter that you measure the volume of oil produced and we have custody transfer meter where you measure the volume of oil that exchanged hands.