WTI crude oil futures settle at $48.22 /bbl

Author: Greg Michalowski | Category: News

Down -$0.56

The WTI crude oil futures settled at $48.22 /bbl. That is down -$0.56 or -1..15%.

The price high moved up to $48.74. The low extended to $47.84.

The price was goosed higher on a sources headline that said OPEC members would be in favor of keeping production quotas in place as long as the non-OPEC members went along with the idea (CLICK HERE).  That push higher was faded, however, after the pair stalled near the 200 day MA (click here) at the $48.66 level.    

The price settled between the high and the low for the day. The sellers remain more in control below the 200 day MA.  The next support targets come in at $47.60 and then the 50% at $45.24.