Crude Oil (CL1) Down $0.15 Over Past 4 Hours, Entered Today Down 1.2%; in an Uptrend Over Past 90 Days

Crude Oil 4 Hour Price Update

Updated April 21, 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

Crude Oil entered today at $62.67, down 1.2% ($0.76) 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

Coming into today the current price of Crude Oil is sitting close to its 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that Crude Oil’s price has gone up 6 of the previous 10 trading days.

Overheard on Twitter

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

  • From IpobCentral:

    @ogu_ojukwu And it is the more expensive LOW SULPHURE crude oil that come from Biafra Land – This is what is keeping Britain as a 1st world economy. Biafra must be restored as appreciation to Chukwu who has blessed us with these resources – Show him we know the value of his Gifts to Biafra✍️

  • From PabloHoggs:

    These days I like how I’m moving & growing. I don’t force friendships or conversation, I give you back the energy and vibe you bring to me.You see me, I see you. You shenk me, I shenk you. You respect me, I respect you. You go low, I turn crude oil.No time🚶

  • From GovernorObaseki:

    3.
    In the last 40 years or so, crude oil came and replaced those economic activities and earnings. So, we now run a federation relying almost exclusively on crude oil. Solely relying on crude oil income is unsustainable; the time for diversification is now.

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

China’s crude oil imports from Saudi up 8.8% y/y in March, UAE shipments jump | Reuters

The customs data also showed that crude oil supplies from Kuwait increased to 0.6 million bpd, up 29% from a year earlier….China’s imports from the UAE were at 0.71 million bpd last month, up 86% on year….China’s crude oil imports from top supplier Saudi Arabia rose 8.8% in March from a year earlier, driven by strong demand and as shipments delayed due to a port congestion finally arrived.