Crude oil futures settle at $58.26 today
Up $1.39 or 2.44%
The crude oil futures have settled at $58.26. The price gained $1.39 or 2.44%. The price was supported today by a surprise drawdown in inventories (-3826K vs +3000K estimate) as well as an increase in implied demand.
THe high today reached $58.48. The low extended to $57.01.
The next key target on the topside comes in at $59.63. That is the 50% of the move down from the October high.