WTI crude oil futures settle at $66.74. The fall this week is the largest since April 2020

WTI WTI WTI is the short-hand for West Texas Intermediate crude oil. WTI is a type of petroleum crude oil that serves as a benchmark in oil pricing. It is a light, sweet crude oil that is extracted from West Texas area in the United States, including the Permian Basin. WTI crude oil is considered to be a high-quality oil due to its low sulfur content and high yields of gasoline and diesel fuel when refined. It is used as a benchmark for pricing other types of crude oil, and the price of WTI crude o WTI is the short-hand for West Texas Intermediate crude oil. WTI is a type of petroleum crude oil that serves as a benchmark in oil pricing. It is a light, sweet crude oil that is extracted from West Texas area in the United States, including the Permian Basin. WTI crude oil is considered to be a high-quality oil due to its low sulfur content and high yields of gasoline and diesel fuel when refined. It is used as a benchmark for pricing other types of crude oil, and the price of WTI crude o Read this Term crude futures Futures Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Read this Term are settling down $1.61 or 2.36% at $66.74.

The high price extended up to $69.83. The low price traded to a new low going back to December 2021 at $65.38. On Wednesday, the low price reached $65.65. Yesterday the low price bottom just above that level at $65.71.

For the trading week, the price of crude oil is down -13.30% or $-10.20. That's the largest one week decline since April 2020. The settlement price was just above the 200 week moving average at $66.14. Next week, the 200 week MA will be a key barometer for buyers and sellers. Stay above the MA level is more bullish. Move below will be more bearish.

Be aware.