WTI crude oil futures for March delivery settle up $1.21 or 2.26%
The price of WTI crude oil futures are settling at $54.76. That's up $1.21 or 2.26%
The high for the day reached $55.26. The low extended to $53.45.
The move higher today broke above the recent highs seen over the last month or so of trading at $53.94. The pair had been confined to a range between $51.40 and $53.94. The contract is also trading at the highest level since January 8, 2020 when the price peaked at $57.41.
Going forward, traders will like to see the old ceiling at $53.94 hold support now. A move back below will disappoint the "break" buyers.
