WTI crude oil) on the day but lower for the week
The price of WTI crude oil settles at $88.96. That was up $2.49 or 2.88% on the day.
For the trading week, the price a week closed on Friday at $92.44. The price is down -3.75% on the week and was the first decline after two weeks of gains of 3.7% and 4.71% over those weeks.
In other news today, the Baker Hughes
- rig count rose by 9 to a total of 779.
- The oil rigs increased by 9 to 622.
- Natural gas was unchanged at 155
Fundamentally, the price of oil was supported by hopes of further easing of Covid restrictions in China.
This article was originally published by Forexlive.com. Read the original article here.