WTI crude oil futures settle at $41.28

Crude oil prices plunge $4.62 for -10.07%

The price of WTI crude oil futures are settling the day at $41.28. That is down $-4.62 or -10.07%. The high price reached $46.38. The low price reached $41.11

The price of oil crashed today as a result of OPEC+ not reaching a production agreement.   

  • Oil is more than 30% off its recent highs
  • The prices been down 9 of the last 11 sessions
  • The price falls to the lowest level since 2017

Technically, the price today fell below key support at the $42.05 to $42.52 area. Those lows include the 2017 low and the 2018 low. It also is a swing low from 2016. The next key target would come in at around $39.19 level going back to August 2016.

Last week the price closed at $44.76. For the week, the price fell -$3.48 or -7.77%.
ForexLive