US WTI crude oil is down $1.23 to $99.58 per barrel.
The decline below $100 is the first since July and it comes on chatter about growing US stockpiles and the positive tone in negotiations with Iran. The US EIA will release its weekly inventory data today, rather than the usual Wednesday release because of the shutdown.
WTI crude oil with 200dma
Technically, the next area support is at the June high of 99.01 followed by the 200-day moving average.
I have liked the short side of this trade, so it’s a great way for me to start out the week.
