Down -$1.22 or 2.27%

The crude oil futures are settling at $52.61 per barrel. That is down -$1.22 or -2.27%.

The price is starting to be hurt by the warm weather in the US. Chicago had no snow accumulation in January and February. That was the first time on record (146 years) that it did not snow.

The price still remains in the $50 to $55 price range that has defined the range since early December.

Looking at the daily chart, before the $50 level is a trend line that cuts across at $51.85. A move below that line would solicit more selling and a test of the $50 level.