Technical Analysis

Crude oil futures settle at $65.63

Down six cents or -0.09%

The price of WTI crude oil futures are settling at $65.63. That is down $0.06 or -0.9%.. The high price today reached $66.76. The low price extended to $64.92.

The crude oil inventory data showed a larger than expected drop in inventories of 7.99 million versus -2.0 million estimate. Gasoline inventories were up 0.737 million versus -0.731 million estimate. 

The private data foretold the data today.  The private data had a drawdown of -7.68 million in crude oil.  

Technically, the move to the upside stalled ahead of the April high of $67.29 (the hi today reached $66.76). The moved to the downside did fine early buyers against the rising 100 hour moving average at $64.80. The low for the day reached $64.92.

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