Crude Oil 4 Hour Price Update
Updated April 28, 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. 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 choppiness in the recent daily price action of Crude Oil continues; to start today, it came in at a price of 62.94 US dollars, up 1.66% ($1.03) since the previous day. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 4th since the previous day in terms of percentage price change. Here is a daily price chart of Crude Oil.
Crude Oil Technical Analysis
Notably, Crude Oil is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Crude Oil:
- From nonso_nnamani:
One day while stuck in Lagos traffic and looking at the hawkers; i wondered to myself – ”Why would anyone go through this stress just to make peanuts” Then i realized that someone who owns a ship for transporting crude oil will look at me and also wonder the same thing.
- From WealthEnrich:
Welspun Corp at Rs. 147 looks a top #StocksToWatch #welcorp has order book of 7K cr & will benefit from the rising crude oil prices along with Capex in Oil & Gas.Constant FII & promoter buying & Excellent Debt free balance sheet with cash of Rs. 69/Share are big positives.
- From therawdeeya:
They’ve been fighting in Ojo since now and there’s no intervention yet to calm the place down.
Them say police Sef Dey run.
If na crude oil Dem see for one area for Ojo now, Usain bolt government Dem go don come barricade the area.
For a longer news piece related to CL1 that’s been generating discussion, check out:
“At the same time, we must closely monitor the situation and the spread of the coronavirus that is taking place, especially in some countries of the Asian region.” Kuwaiti oil minister Mohammed al-Fares said before the meeting that the oil market was “witnessing a tangible improvement in the rates of demand with the distribution of vaccines and the continuation of stimulus policies by major global economies,” according to state news agency Kuna….The 23-country alliance, which controls roughly half of world oil production capacity, had committed to holding about 8 million b/d of crude off the market in April — 6.9 million b/d in official OPEC+ cuts and a voluntary additional 1 million b/d cut by Saudi Arabia — as it attempts to support prices through the uneven pandemic recovery.