The price of WTI crude oil settled at $80.08 which is down -$1.56 on the day or -1.91%. The low for the day scooted to $77.24. That was the lowest level since September 28. The price is settling below the 100 week MA at $80.95. The last time the price of crude oil closed below the 100 week MA was back on the week of December 28, 2020.
For the week, the price is down -$9.05 or -10.17%. That is the sharpest % decline since the week of March 28, 2022 when the price tumbled 11.79%.
Bearish week, and bearish close for the week technically for crude oil.
Crude oil tumbles over 10% on the week
This article was originally published by Forexlive.com. Read the original article here.