Oil traded close to the high and low of the recent range today but has settled right in the middle.
WTI first surged after the US approved an application to export one type of crude, reversing the current blanket ban. That sent crude to $107.50, just 18 cents from the 9-month high touched June 13. That eventually retraced and crude fell as low as $105.47, just 22-cents from yesterday’s 10-day low.
Technically oil continues to consolidate after the break of resistance at $105 and the path is upward toward the August highs above $110.
WTI crude oil
