August Crude Oil futures are trading higher by $1.34 at $49.19 per barrel in Wednesday's session. The rally from late in the day on Tuesday has carried over into today's session. In fact, the low for the day is $0.13 above Tuesday close ($47.85) at $47.98. The contract has now rallied over $3. since Monday's low ($45.83).
Crude Oil was hovering near its low for the day, when it caught a bid off the EIA data at $10:30 AM. So far, the rally has reached $49.20 and is not far off that level. Based on the daily charts, there is limited resistance in the remainder of the $49 handle.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in