Crude drawdown -2.795M vs est build of 0.118MGasoline drawdown -2.441M vs estimated drawdown of -0.527MDistillates drawdown -0.724M vs estimate of build of 0.481MCushing build of 0.075M vs est of drawdown of -0.457M
Crude oil is trading down $-0.69 or -1.12% and $61.16. The low price reached $60.57. The high price reached $63.04.
Looking at the hourly chart, the price of crude oil is now back below the 100-hour moving average at $61.51, and the 200-hour moving average at $61.61.
This article was written by Greg Michalowski at www.forexlive.com.