WTI crude oil futures settle at $40.29


Up $3.15 or 8.48%

The price of WTI crude oil futures are settling at $40.29. That is up $3.15 or 8.48%. The high price reached $41.33. The low price came in at $37.16. Prices were supported by hopes that Pfizer’s vaccine will help to eradicate the Covid virus down the road.

Up $3.15 or 8.48%_

Technically, the price is trading between its 200 day moving average at $39.64 and it’s 100 day moving average at $40.84. The high price today did extend above the 100 day moving average for the 1st time since October 21. A move back above that 100 day moving average is needed to give more of a bullish bias for the pair. Conversely, should the price fall back below its 200 day moving average, the bias would tilt more to the downside from a technical perspective.

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