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Crude oil surges for the second consecutive day

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Crude oil prices are up around 3% today

The price of WTI crude futures are currently trading at $67.47. That’s up to dollars or +3.01%. The high price reached $67.63 today. The low price was down at $65.44. 

Crude oil chart

The move to the upside is the second consecutive sharp rise. Recall from yesterday the price low came in at $61.76. That was just above the May lows of $61.58. The price moved to a high of $65.97 yesterday before backing off into the close (modestly).

Looking at the daily chart, the price is now approaching its 100 day moving average. That currently comes in at $67.96. A move back above that moving average would be more bullish from a technical perspective.



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