WTI crude oil futures for September settle at $77.07
The price of WTI crude oil futures is settling near the high for the day at $77.07. That's up $1.42 or 1.88%. The low for the day was at $75.69.The closing level is just below the 200-day moving average at $77.18. Recall from last week the price tested that level and rotated back down toward the 100-day moving average currently at $73.68 on Monday and Tuesday of this week. The low price for the week reached $73.82.For the trading week, the price rose 2.20%.According to the latest Baker Hughes Weekly Rig Count, the number of oil rigs has fallen by 7 to 530, and the number of natural gas rigs has dipped by 2 to 131, making the total count decline to 666. This article was written by Greg Michalowski at www.forexlive.com.
The price of WTI crude oil futures is settling near the high for the day at $77.07. That's up $1.42 or 1.88%. The low for the day was at $75.69.
The closing level is just below the 200-day moving average at $77.18. Recall from last week the price tested that level and rotated back down toward the 100-day moving average currently at $73.68 on Monday and Tuesday of this week. The low price for the week reached $73.82.
For the trading week, the price rose 2.20%.
According to the latest Baker Hughes Weekly Rig Count, the number of oil rigs has fallen by 7 to 530, and the number of natural gas rigs has dipped by 2 to 131, making the total count decline to 666.
This article was written by Greg Michalowski at www.forexlive.com.
