Crude Oil (CL1) Down $0.15 Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Entered Today Down 2.82%

Crude Oil 4 Hour Price Update

Updated July 15, 2021 02:00 AM GMT (10:00 PM EST)

Crude Oil entered the current 4 hour candle at $46.6, down 0.32% ($0.15) from 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

The choppiness in the recent daily price action of Crude Oil continues; to start today, it came in at a price of 73.13 US dollars, down 2.82% ($2.12) since yesterday. On a relative basis, Crude Oil was the worst performer out of all 6 of the assets in the energy commodity asset class today. Here is a daily price chart of Crude Oil.

CL1

Crude Oil Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Crude Oil crossed below its 20 day moving average yesterday. Volatility for Crude Oil has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 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 INCIndia:

    When crude oil price was $125, the UPA provided petrol at Rs 65 & diesel at Rs 44. The sole reason for the exorbitant prices is the levy of cesses by the govt. Total cesses levied by the central govt on petrol & diesel are Rs 33 & Rs32.:Shri @PChidambaram_IN
    #ModiMeansMehengai

  • From DrMkhize4:

    SAPREF (SA’s largest crude oil supplier), supplying about 35% of SA fuel is shutting down due to unrest. My tank says I can only drive for 1km.😭. All fuel garages Empangeni are closed. The one on the N2 has run out of fuel. I’m running out of food, stores were looted🙄

  • From RuchiraC:

    When crude oil price was USD 125, the UPA govt was able to provide petrol at Rs 65 a litre and diesel at Rs 44 a litre. The sole reason for the exorbitant prices today is the levy of cesses by the Central govt: @PChidambaram_IN

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

China H1 crude oil imports down 3% -customs | Successful Farming

All https://www.barchart.com/solutions/ is provided by Barchart Solutions….Information is provided ‘as is’ and solely for informational purposes, not for trading purposes or advice.