Crude futures are settling the day at $72.40. That is down $0.28 or -0.39%. The low price reached $71.74. The high price reached $73.53.
The price action today was up-and-down, trading above and below its 100 and 200-hour moving average is in the process. The 200-hour moving average is at $72.51. The 100 hour moving average is at $72.62.
At session lows today, the price tested an old trendline and bounced. That trendline was broken during Monday’s trade but quickly reversed. Today, the “old line” stalled the fall.
Crude oil stalls at trend line support today.
The declines today came despite increased tension the Red Sea. A higher dollar was a contributor to the downside tilt.