The price of WTI crude oil futures are settling at $91.32. That is down $0.99 on the day or -1.07%.
The high price reached $92.73. The low was at $90.73.
Looking at the hourly chart above, the price moved above a topside trendline on Thursday, on its way to the high at $93.17 on Friday. The price has corrected lower but remains above the broken trendline (currently at $90.46).
Fundamentally, US, Iran nuclear talks are set to start tomorrow which if there is an agreement, sanctions against Iranian oil could potentially be lifted and easing some of the supply constraints in the markets.
Regarding Russia and Ukraine, French president Macron met with Russian President Putin in order to potentially defuse the risk of war and economic sanctions.
