The price of WTI crude oil futures for February is settling up $0.98 or 1.22% at $81.31. The high price reached $81.91. Low price was at $79.91.
For the March contract it is settling at $81.64 up $1.03
For the trading week, the price is up 2.18%
The 100 day moving average for crude oil is currently at $82.46. The level will be a key target on the top side to get through if the buyers are to take more control.
Crude oil looks toward the 100 day moving average
The Baker Hughes rig count released earlier today showed:
- Total rigs down to four at 771.
- Oil rigs -10 at 613
- natural gas rigs up to six at 156
This article was originally published by Forexlive.com. Read the original article here.