Crude Oil 4 Hour Price Update
Updated May 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 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
Crude Oil is down 2.23% ($1.41) since the previous day, marking the 3rd straight day a decrease has occurred. Out of the 6 instruments in the energy commodity asset class, Crude Oil ended up ranking 4th for the day in terms of price change relative to the previous day. Here is a daily price chart of Crude Oil.
Crude Oil Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Crude Oil crossed below its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 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
Behold! Here are the top tweets related to Crude Oil:
- From StewartButton:
A barrel, which can hold crude oil, can be thought of as a type of battery for energy storage. The cost of this barrel is about $20. (The cost of the oil it stores is about $60.) To store the same amount of electrical energy in a battery, would require a battery worth $510,000.
- From StefanAntonino:
Bill Gates & Warren Buffet own large stakes in the railways that transport crude oil between Canada & the U.S. & stand to profit massively from the shutdown of pipelines. The missing piece? Prices of oil must increase to make transporting by railway cost effective. 🤔
- From jeff_mbanga:
Tanzania will sign the Host Government Agreement for the East Africa crude oil pipeline tomorrow, completing a set of crucial legal docs for the project to proceed. Calls to have Ugandans grab more oil opportunities are growing louder as Govt prepares to sanction project works.