Crude Oil (CL1) Underperforms All Energy Commodities, Makes Big Move Relative to Past Three Months; Down 305.97%

Crude Oil Daily Price Recap

Crude Oil closed the previous day down 305.97% ($55.9); this denotes the 2nd day in a row it has gone down. Those trading within the energy commodity asset class should know that Crude Oil was the worst performer in the class today. Let’s take a look at the daily price chart of Crude Oil.

Crude Oil Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 9 out of the past 14 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 RealOldPaul:

    A little finance tip right now is to stock up on thousands of gallons of crude oil instead of buying stuff like milk or eggs, then refining your own gas from the oil and selling it for a huge profit once the market goes back up. Then you can buy as much milk and eggs as you want.

  • From harrismonkey:

    So, right now the value of a barrel of crude oil is negative $25. That means if you have one, you need to pay someone $25 to take it away. The world is a bit upside-down. Of course all fuel retailers will be passing on these savings to a forecourt near you soon!

  • From EmekaGift:

    YORUBAS, if you are worried about oil and Gas, right now Crude oil is $12 Dollars per barrel, in no distance time, it will be useless. That is why it is important to build your own economy, if you need oil and Gas, we will give it to you for free.—-Mazi Nnamdi Kanu
    20/4/2020

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

Iran’s crude oil production drops to lowest in 30 years – Iran News Wire

Iran’s daily oil production before the US sanctions was more than 3.8 million barrels….Prior to sanctions, the Iranian regime exported 2 million barrels of crude oil and more than half a million barrels of gas condensate a day.