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Down -$0.19 or -0.42%
The price of crude oil futures are settling the day at $45.34. That’s down $-0.19 or -0.42%. The high price for the day reached $45.80.
The price of crude oil fell toward session lows in the New York session after a headline saying Saudi Arabia mulls quitting role as co-chair of OPEC+ JMMC. Over the price rebounded is closing with modest losses on the day.
Technically looking at the daily chart, the low price did moved back below the August high at $44.59. Recall from Friday the price also dipped below that level, but could not sustain downside momentum. It would take a move below that level with momentum to tilt the bias more to the downside.
This article was originally published by Forexlive.com. Read the original article here.