Crude oil price rises sharply to a high of $62.80 after the US Navy shot down an Iranian drone in the Strait of Hormuz.
Crude oil price gets the expected support from the $59.28 level, edges a bit higher to $59.5.during today’s early session.
Crude oil price free fell during yesterday’s session after a long divergence between the price and the momentum which began last week.
New Zealand dollar rises, reaching a high of 0.6660 after the central bank delivered its interest rates decision.
As expected, Crude oil price recovers higher to the $55.73 resistance level after regaining traction during yesterday’s and today’s early session.
Crude oil price downward spiral accelerates in early Europe, sending the prices nearly 2% lower to test the 52.00 support zone.
Crude oil price declines sharply after the EIA released weekly inventory data. The numbers showed that the inventories rose by 6.7 million barrels.
Crude oil price rebounds as expected during Friday's session erasing nearly 2.5% from its losses after pulling back from the oversold zone.
Yesterday, the price declined and almost reached Monday’s low of $68.50. Today, crude price rises slightly to a high of $69.80.
The price of crude oil declined slightly after President Donald Trump asked OPEC members to boost production.