Crude oil breaks below $88

The price of crude oil has dipped to a new session low and in the process is down testing the 61.8% retracement of the move up from the December 2021 low. That level comes in at $88.04. The low price just reached $87.80, but has bounced back up to $88.15. That still down $2.50 or -2.75% on the day.

The price is now down 3 of the last 4 trading days. The high price last week reached $101.87.