Negotiators from Israel, US, Egypt, and Qatar have agreed on a framework for the release of remaining American and Israeli hostages.
Meanwhile, the USD Defense Secretary Austin is on the wires saying:
- Expresses sorrow, outrage over the deaths of US troops in Jordan drone attack (tribute to Iranian rebels)
- Neither he nor Biden will tolerate attacks on US forces, it will take all necessary actions to defend them.
Crude oil prices have moved lower, and in the process is trading back below the $77 level. The high price reached on the extension to the upside last Friday, and into this week's trading reached $79.29.
Looking at the hourly chart below, the 100 hour moving average currently comes in at $76.09 (blue line on the chart below). The low price today has so far reached $76.54. The last few times the price has tested the 100 hour moving average, buyers have slowed the fall, and pushed the price higher.Key target on the downside now.
Crude oil moves lower and toward 100 hour MA support