Crude Oil (CL1) Down $0.15 Over Past 4 Hours, Outperforms All energy commodity; Breaks Above 50 Day Average

Crude Oil 4 Hour Price Update

Updated May 24, 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 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

The end of a 3 day negative run has come for Crude Oil, which finished yesterday up 2.65% ($1.64). Crude Oil outperformed all 6 assets in the energy commodity asset class since yesterday. Below is a daily price chart of Crude Oil.

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Crude Oil Technical Analysis

First things first: Crude Oil crossed above its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days Crude Oil’s price has gone up 6 them.

Overheard on Twitter

Behold! Here are the top tweets related to Crude Oil:

  • From EmamiVikram:

    @GabbbarSingh The hypothesis inherently assumes that the aliens belong to a more resource rich planet than us. No human would let a zoo remain if it were to have tons of crude oil underneath it. Similarly no alien would let Earth be peaceful if we had resources they want.

  • From Samir_Madani:

    Libya is a lot of work to track. They have many ports shipping small amounts.During March we tracked 1.2Mbpd in exports, but it took 54 vessels to move that amount.That’s 688K barrels/tanker on avg.It’s not their fault though, as they have a broad range of crude oil assays.

  • From dlt57:

    @SteveDaines @JoeBiden The construction of the pipeline would indeed create thousands of jobs. But they will be temporary. Once Keystone is completed, only 35 permanent employees would be needed to operate the pipeline at a significant environmental cost. It is the dirtiest of crude oil. Facts Matter