Crude Oil (CL1) Down $0.15 Over Past 4 Hours, Fares the Worst Out of energy commodity; Started Today Down 4.28%

Crude Oil 4 Hour Price Update

Updated March 26, 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 58.56 US dollars, down 4.28% ($2.62) from yesterday. Those trading within the energy commodity asset class should know that Crude Oil was the worst performer in the class today. Below is a daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

First things first: Crude Oil crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. Or to view things another way, note that out of the past 14 days Crude Oil’s price has gone down 9 them.

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 anasalhajji:

    – The US commercial crude oil inventories are above what is needed for market equilibrium by more than 85 mb.
    – The US can release 30 mb from the Strategic Petroleum Reserves and still have 600 mb in the SPR! – China can release 20 mb in a three-week period from SPR.

  • From PolKholArmy:

    Central taxes on Petrol & Diesel rose by 307% in last 6 years. The BJP govt collected Rs 2.94 lakh cr between Apr 20- Jan 21. Global crude oil prices had touched a 2 decade low during the pandemic, but the @BJP4India govt made a killing from looting Indian citizens! #BJPPolkhol

  • From drshamamohd:

    Central taxes on #petrol & #diesel rose by 307% in last 6 years. The BJP govt collected Rs 2.94 lakh cr between April 2020- January 2021. Global crude oil prices had touched a 2 decade low during the pandemic, but the #Modi govt made a killing from looting Indian citizens!

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

President: Iran to shift crude oil exports to Persian Gulf, Oman Sea terminals – IRNA English

Tehran, March 25, IRNA – Iranian President Hassan Rouhani inaugurated 39 national projects with 5,800 billion tomans investment in trade and economic zones of three provinces on Thursday….Tehran, March 23, IRNA – Iranian President Hassan Rouhani, in separate messages on Tuesday, congratulated Pakistani President Arif Alvi and Pakistani Prime Minister Imran Khan on the country’s National Day.