Crude Oil (CL1) Down $1.6 in Last 4 Hours; Came Into Today Down For the 4th Straight Day

Crude Oil 4 Hour Price Update

Updated September 08, 2020 11:07 PM GMT (07:07 PM EST)

Crude Oil is down 3.87% ($1.6) since the previous 4 hours, marking the 3rd straight candle a decrease has occurred. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 5th since the previous 4 hours in terms of percentage price change.

Crude Oil Daily Price Recap

Crude Oil is down 1.68% ($0.67) since the previous day, marking the 4th straight day a decrease has occurred. Relative to other instruments in the energy commodity asset class, Crude Oil ranked 3rd since the previous day in terms of percentage price change. The daily price chart of Crude Oil below illustrates.

CL1

Crude Oil Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 30 days Crude Oil’s price has gone down 16 them.

Overheard on Twitter

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

  • From cchukudebelu:

    The way many of us view taxation is like; We used to make (X) from crude oil rents, now we are making (Y), so we need to increase non-oil tax by (X) – (Y) to make up for the shortfall.It is not that simple, taxation is also about a “social contract”.

  • From sarahmarb:

    #PonziModi Modi Govt. charges one of the highest taxes & cess on Petrol, Diesel & LPG in the world when the price of crude oil is the lowest in last 20 years. A Govt. designed to loot the poor & fill the coffers of the rich. Robin Hood in Reverse. 🤷‍♀️

  • From WCCanadian:

    @TheoFleury14 I’ll listen to it when world oil & gas demand ceases to exist. Crude oil is the #1 traded commodity in the world and we’re sitting on more than we need. Why shouldn’t we exploit it and prosper from it? We have to stop being ashamed of our natural resources.

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

Venezuelan Cities Flooded With Water and Crude Oil Following Heavy Rains – Video – Sputnik International

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“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram