WTI crude oil futures settle at $63.83

Technical Analysis

Author: Greg Michalowski | crude-oil

Up $2.55 or 4.16%

The price of WTI crude oil futures are settling at $63.83. That is up $2.55 or 4.16%.

The OPEC+ meeting today saw Saudi Arabia maintain their production cuts through April. Russia and Kazakhstan, will be allowed to increase production by 130 and 20 thousand barrels per day respectively, due to continued seasonal consumption patterns.

The high price today reached a new cycle high of $64.86. The low price reached $60.52.

The next major topside target comes in at the January 2020 high $65.65.
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