Crude Oil (CL1) Down $0.15 On 4 Hour Chart, Started Today Up 1.16%; in an Uptrend Over Past 90 Days

Crude Oil 4 Hour Price Update

Updated April 07, 2021 01:53 AM GMT (09:53 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. On a relative basis, Crude Oil was the worst performer out of all 6 of the assets in the energy commodity asset 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 59.33 US dollars, up 1.16% ($0.68) from the previous day. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 2nd since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

Coming into today Crude Oil is now close to its 50 day moving averages, which may act as price barrier for the asset. 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. Or to view things another way, note that out of the past 10 days Crude Oil’s price has gone up 5 them.

Overheard on Twitter

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

  • From jewwithlaser:

    @MrReaganUSA @laurenboebert Laur, sorry but not on Biden. A) Texas refines a majority of crude oil in US. This dropped by nearly 56% in Feb when the power grid (brought to you by Abbott) failed. B) supply/demand were both down during pandemic. Now demand is up, but not supply. This is how markets work.

  • From joe70micoo:

    @Maureen6Johnson Not true, we will fund our own Scottish nhs with the millions made from crude oil & the billions owed to us from England as compensation for losses at the battle of Bannockburn & dont forget our new currency the smackaroony will be worth more than the £ snp emma harper told us😉

  • From Noratoriou5:

    @veryfinanceguy @sunraysunray @krystalball They hate him because he doesn’t want to sell Bolivia’s 200M barrels of crude oil to US oil companies for pennies on the dollar, but wants the Bolivian people to own it.That’s the only reason the US hates Bolivia: oil they can’t get their hands on.

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

Column: OPEC+ bets crude oil demand will recover as fast as output returns | Reuters

Crude arrivals in Asia in March are expected to be around 25.2 million bpd, according to Refinitiv Oil Research, slightly down from 25.75 million bpd in February, but up from January’s 24.58 million bpd and December’s 23.21 million bpd….Arrivals in March last year were 26.6 million bpd, while February 2020 saw 26.7 million bpd offloaded in Asia.