US crude oil futures settle at $63.25

7 months ago 30

RoboForex - professional services on Forex market

Down $1.55 or -2.39%

US crude oil prices are settling at $63.25. That is down -$1.55 or -2.39%. Earlier today, Trump said that he expects the price of crude oil to trade below $60. Getting the price of oil down is a Trump priority. He also is against alternative energy sources including solar and most definitely wind-farms.

Trump commented that domestic oil production is up 300,000 barrels per day.

Technically, the low price today at $63.13 tested the rising 200-hour moving average at $63.15. Earlier, the price fell below its 100 hour moving average at $63.62. Getting below both would increase the bearish bias and have traders looking down toward the most recent low at $61.45.

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