Crude Oil (CL1) Down $0.15 Over Past 4 Hours; 2 Day Up Streak Snapped

Crude Oil 4 Hour Price Update

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

The choppiness in the recent four-hour candle price action of Crude Oil continues; to start the current 4 hour candle, it came in at a price of 46.6 US dollars, down 0.32% ($0.15) since the previous 4 hours. 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

Crude Oil entered today at $65.63, down 0.09% ($0.06) from the day prior. Out of the 6 instruments in the energy commodity asset class, Crude Oil ended up ranking 5th for the day in terms of price change relative to the day prior. 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. For additional context, note that price has gone up 8 out of the past 14 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 Mauritech2:

    @HansenInnocent @Emekannaoma Hansen why are u afraid of letting people go? U are still waiting for God to come from Heaven and fix a country that sold crude oil for over 50 years and still record 3rd worst country in the whole world. The largest oil producing country in Africa does not have electricity

  • From citizenyao:

    @GabbyDarko Reduction in oil prices was a result of the global reduction in crude oil because of the pandemic coupled with Globally reduction imports which Ghana was not excludd hence a stable cedis. 50% of oil prices are influenced by taxes. If the gov’t reduce taxes, price will fall.

  • From ParimiPhani1:

    @pvbabji @RahulGandhi I’m not support for any political party. Once check petrol and diesel price last year and this year (and also check international crude oil $ price also), cooking oil price,check groceries, elections, fertilizer, etc…each and every product price increased may I know the reason.

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

East Africa: Africa Doesn’t Need the East Africa Crude Oil Pipeline – allAfrica.com

Africa does not need the East Africa Crude Oil Pipeline….Fossil fuels such as oil and coal are not only fuelling the dangerous climate crisis that threatens the lives and livelihoods of millions of people in Africa but also cause immense harm to people, communities, and the environment….New incoming investment needs to be directed towards ensuring a just transition from fossil fuels such as oil and coal to community-controlled renewable energy infrastructure that will actually provide energy for the people and end the ongoing inequalities and afflictions caused by the fossil fuel energy regime….Transforming our current broken energy system needs to be Africa’s number one priority and this does not include investing in new oil pipelines or more fossil fuels….African countries need to avoid fossil fuels to protect people now and in the future.