Crude Oil (CL1) Down $0.15 Over Past 4 Hours; 5 Day Up Streak Ended

Crude Oil 4 Hour Price Update

Updated May 31, 2021 01:52 AM GMT (09:52 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 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 end of a 5 day positive run has come for Crude Oil, which finished the previous day down 0.79% ($0.53). Relative to other instruments in the energy commodity asset class, Crude Oil ranked 4th since the previous day in terms of percentage price change. Below is a daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

The first thing we should note is that Crude Oil is now close to its 20 day averages, located at 65.15 respectively, and thus may be at a key juncture along those timeframes. 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 19 out of the past 30 days.

Overheard on Twitter

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

  • From AareKurunmi:

    The core north sees nothing wrong in stealing the crude oil from the South to develop Niger republic and the Arewa land. It sees nothing wrong in grabbing lands from the South to settle Fulani people. It sees nothing wrong in using the taxes from the South to develop the north?

  • From theakinakinboye:

    The Governor was already a successful businessman. He became the first Nigerian to own and operate the first fully-indigenous firm to trade in crude oil at the age of 30. His passion for youth empowerment had its root in the success he made of his youthful days. #ijobamekunu

  • From 1984Briguy:

    @disclosetv Just in time for Memorial day, all by design. Indonesia refinery fire (lightning strike), colonial pipeline cyber attack on the billing system, Israel and Palestine missile attacks, now this. Someone wants crude oil to be $100 per barrel. Pro tip: Big banks are long on crude.

For a longer news piece related to CL1 that’s been generating discussion, check out:


Africa does not need the East Africa Crude Oil Pipeline. – Greenpeace Africa

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….The EACOP will cause destruction and loss of cultural sites and value, and lead to habitat disturbance to nearly 2000 kilometres of protected wildlife habitat.  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 on-going inequalities and afflictions caused by the fossil fuel energy regime.