Crude oil bounces back above $100
The price of WTI crude oil is trading at $101.31. That's up around $3.70 or 3.83% on the day.
The gains come after the price reached a low just last Thursday of $90.58. That was the lowest level since February 25. On Friday President Biden met with Saudi Arabia.
The price moved to a high of $99 on Friday. The low price today reached $95.88 before running back to the upside. The high price today reached $101.46.
The 38.2% retracement of the move down from the June 14 high cuts across at $103.19. That is the next upside target on further upside momentum.
