Crude Oil (CL1) Down $0.15 On 4 Hour Chart, Outperforms All energy commodity; Crosses 50 Day Moving Average

Crude Oil 4 Hour Price Update

Updated April 05, 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

The back and forth price flow continues for Crude Oil, which started today off at 61.45 US dollars, up 3.87% ($2.29) from yesterday. On a relative basis, today was pretty good: Crude Oil bested all 6 of the assets in the energy commodity class 🙂 Let’s take a look at the daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

Notably, Crude Oil crossed above its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Crude Oil’s price has gone up 6 of the previous 10 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Crude Oil:

  • From Faiz_INC:

    When Crude Oil in Int’l market is almost half of its price compared to the price when UPA was in rule, BJP Government has doubled petrol & diesel prices. Thanks to Modi’s foresight, Saudi seems has declined to supply crude oil to India. FM has already declared she has no control.

  • From kktotlani:

    Latest:Petrol, diesel & LPG prices have started reducing now & they’ll reduce further in the coming days. We had stated earlier also that we’ll transfer benefit from decrease in crude oil prices in global market to the end customers. – Dharmendra Pradhan, Union Petroleum Minister

  • From NasirYousafzai0:

    With the crude oil prices in negative.Niazi’s chor govt is doing a criminal act by selling petrol at 111Rs/Liter.This incompetent bunch of thugs has made the life of a common man miserable.Niazi and his chor gang needs to be held accountable for these crimes
    #آئی_آئی_مہنگائی_آئی

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

OPEC and allies agree to gradually boost crude oil output – New Delhi Times – India’s Only International Newspaper

Oil prices were trading higher despite the decision to increase production, suggesting markets see more than adequate demand for the added oil….Another factor that could soon push prices higher is demand for gasoline, which is approaching pre-pandemic levels.