Crude Oil (CL1) Up $0.03 in Last 4 Hours, Started Today Down 0.19%; in a Downtrend Over Past 14 Days

Crude Oil 4 Hour Price Update

Updated September 15, 2020 12:49 AM GMT (08:49 PM EST)

The back and forth price flow continues for Crude Oil, which started the current 4 hour candle off at 37.33 US dollars, up 0.08% ($0.03) from the last 4 hour candle. Out of the 6 instruments in the energy commodity asset class, Crude Oil ended up ranking 2nd for the four-hour candle in terms of price change relative to the last 4 hour candle.

Crude Oil Daily Price Recap

37.26 was the closing price of the day for Crude Oil, resulting in today being one in which price moved down 0.19% ($0.07) from yesterday. 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 yesterday. The daily price chart of Crude Oil below illustrates.


Crude Oil Technical Analysis

The first thing we should note is that the current price of Crude Oil is sitting close to its 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 additional context, note that price has gone down 16 out of the past 30 days. As for those who trade off of candlesticks, we should note that we’re seeing doji and pin bar patterns appearing here.

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 TankerTrackers:

    As for gas condensate, it is NOT gasoline. It can be refined into things like high octane gasoline and jet fuel with ease (since it is not crude oil) but it will likely be used as a blending agent to improve flow of Venezuela’s very heavy crude oil in order to boost production.

  • From jumaf3_:

    East African neighbors no longer want to work with Kenya. Museveni has thrown away the Lapset project (useless project) & signed agreement with Magufuli for the construction of 1,445Km crude oil pipeline from Uganda’s oil fields to the port of Tanga. Not even Somalia wants us.

  • From _SirWilliam_:

    Nobody can fool me with fantasies about Nigeria.2015 opened my eyes, Nigeria will drown my region in crude oil if they could.Border closure for you in the South, while no borders shut in the North.Now your judiciary is getting attacked because you hurt Elrufai’s ego

In terms of news links for Crude Oil here’s one to try:

Museveni, Magufuli sign pact to commission 1,445-km East African Crude Oil Pipeline » Capital News

Speaking when he hosted President Museveni in Chato District, northwestern Tanzania, President Magufuli said the project will see that Tanzania makes more than USD 3.24 billion and see the creation of over 18,000 jobs.

“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