Crude price have moved lower after Pres. Biden said that he would think about other alternatives to striking Iranian oil fields. The high price of oil reached $75.53. It is currently trading at $74.22. That’s still up around $0.50 on the day.
Crude oil is now settling the day up $0.67 or 0.91% at $74.38.
For the trading week, the price is up $5.79 or 8.42%. The most recent low was down at $65.29 during the week of September 9. The high this week at $75.53 (reached today) was the highest level since August 30.
Technically, the price today got close to its falling 100 day moving average at $76.11.
This article was written by Greg Michalowski at www.forexlive.com.
