Crude oil futures settle at $83.17

The price of WTI crude oil futures is settling at $83.17. That is up $1.82 or 2.24% on the day. The price is settling near the high for the day at $83.21.

Technically, the 100-week moving average is at $83.05. Closing above that level is more bullish. The next target comes against the 61.8% retracement of the move down from the 2023 September high to the December low. That level comes in at $84.59.

For the trading week, the price is up over 3%.

This article was written by Greg Michalowski at www.forexlive.com.