WTI crude oil futures settle at $90.50

WTI crude oil Crude Oil Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Read this Term futures are settling up $2.39 or 2.71% at $90.50. The high price reached $91.45. The low price was at $87.35. The prices up for the 2nd days in a row.

Yesterday, the weekly inventory report showed a greater than expected drawdown Drawdown In financial trading, the drawdown represents the amount of money a trader can lose or has lost, following a series of losing trades. This is measured from the high of the trader’s capital to its low, over a given period of time. This is usually expressed as a percentage of a trader’s account. The current drawdown is simply the amount of money a trader’s balance has been reduced by in a given time, without necessarily closing out at that point.For example, if a trader placed an initial deposit o In financial trading, the drawdown represents the amount of money a trader can lose or has lost, following a series of losing trades. This is measured from the high of the trader’s capital to its low, over a given period of time. This is usually expressed as a percentage of a trader’s account. The current drawdown is simply the amount of money a trader’s balance has been reduced by in a given time, without necessarily closing out at that point.For example, if a trader placed an initial deposit o Read this Term. UBS said today that oil could reach $125 as result of too tight supply.

Looking at the 4 hour chart, the pair is approaching a topside trend line near $91.63. The 38.2% retracement of the move down from the July 29 high cuts across at $91.87 finally the 100 bar moving average of the 4 hour chart is at $91.98. Getting above those levels is required to increase the bullish bias.