Crude Oil (CL1) Down $0.15 Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Entered Today Up 4.85%

Crude Oil 4 Hour Price Update

Updated January 06, 2021 01:52 AM GMT (09:52 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 49.93 US dollars, up 4.85% ($2.31) since the previous day. Out of the 6 instruments in the energy commodity asset class, Crude Oil ended up ranking 3rd for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Crude Oil.

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Crude Oil Technical Analysis

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 90 day timeframe, which shows price moving up over that time. 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 TeacherLingua:

    So yesterday my daughter (18 mo) said she need 11, 780 legos to complete her mock Childlike Empress spire. I gave her a chicken bone and told her seeing a it become a fossil and then crude oil will help her make her own legos. It took 100mil years, but it was worth it.

  • From chpyhpy:

    @stillgray S Korea had been selling high-purity hydrogen fluoride made in Japan, the raw material for nuclear fuel, to Iran and was getting crude oil in exchange. However, when this was discovered, they were unable to smuggle it in and were sued by Iran for non-payment of the crude oil fee.

  • From GilbrookMD:

    @CoinMarketCap Are you going to list $ELX, a token that will solve the crisis in the oil industry? It has gone over 4000% without being listed by yourself and coin gecko. It is days old. Bonding 1 token to the supply and price of crude oil. Minimising human error and litigation.

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

3 months after crude oil spill causing environmental pollution: Bayelsa communities cry out over loss of livelihood – Vanguard News

Chairman of the United Fishing Union of Sangana, Ikonikumo Noel said: “The death of this fish (referring to a completely decomposed large fish and pointing towards the oil facilities in the sea) was caused by the oil spill from Conoil facility….“The oil spill happened about three months ago….Report has been given to NOSDRA and Bayelsa State Ministry of Environment yet we are not seeing anything.” Lamenting the situation in the area, President of Akassa Youth Leaders Forum, Telimoye Moses asserted, “we have videos taken at the wellhead site and our fisher folks going to sea still inform us that the crude oil is still floating and affecting their fishing activities till now….“Fishing communities are suffering from oil devastation and damages as they call on relevant interventionists to be proactive and act fast to end this threat which is no doubt affecting conservation of marine ecosystems as the beach is major nesting ground for Green, olive ridley and leatherback turtles.” Though the company could not be reached for comment, the Environmental Rights Action/Friends of the Earth Nigeria which visited the area expressed concern over the state of the environment and urged the industry regulators, especially the National Oil Spill Detection and Response Agency (NOSDRA), Department of Petroleum Resources (DPR) and Bayelsa State Ministry of Environment to investigate the matter and follow up in the interest of the environment.