Crude Oil (CL1) Down $3.01 Over Past 4 Hours, Tops All energy commodity; 4 Day Down Streak Snapped

Crude Oil 4 Hour Price Update

Updated September 10, 2020 12:49 AM GMT (08:49 PM EST)

Crude Oil closed the previous 4 hours down 7.57% ($3.01); this denotes the 4th consecutive candle a decline has happened. 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

Crude Oil’s 4 day negative streak has officially concluded, as the candle from the previous day closed up 2.75% ($1.01). Crude Oil outperformed all 6 assets in the energy commodity asset class since the previous day. Let’s take a look at the daily price chart of Crude Oil.

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. For another vantage point, consider that Crude Oil’s price has gone down 15 of the previous 30 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Crude Oil for the past day were:

  • From olushola_shola:

    @GarShehu Hi @GarShehu if u have brains, u will not talk now. Because price of crude oil is forecast to go up and if truly our oil sales is deregulated and not your usual government lies then the price of fuel will realistically sell for that N600 range because of exchange rate of ₦

  • From DejiAnubi:

    All these I have crude oil buyer, I have Dpk, diesel, pms. I no do oh. That was 8 years ago. But goodluck to everyone as for me and myself, give me a brick and mortar business. Even tech sef, I no do. Give me market woman and aboki with his kiosk.

  • From oloye__:

    The global price of crude oil has dropped since Buhari took office in 2015. This should translate into a lower price for the end products (AGO, PMS, etc). But what we have witnessed instead is a rise in the cost of petroleum products.PMS was 87naira, now it is 162naira. (+86%).

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

Crude Oil Price | WTI Price Chart – Investing.com

By Peter Nurse 
Investing.com – European stock markets traded higher Wednesday, with investors taking a potential delay to a Covid vaccine and heavy selling of U.S. tech stocks in……Are you sure you want to block %USER_NAME%?


“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