Crude oil is moving closer to the cycle high from 2021

The price of WTI crude oil futures are settling at $82.12. That's down $0.52 or -0.63%. The high price today reached $80.94 while the low extended to $81.78. The high price did stall ahead of the high from yesterday $83.07.

The cycle high and high for 2021 came in at $85.39. The high close was at $84.50 on November 9.

In a another energy related market, the price of natural gas is lower today after spiking to a new high. Looking at the daily chart, the price moved from $4.04 to a high of $4.88 today. That's a gain of around 20.8% from the low to the high. At the high, the price moved above its 100 day moving average of $4.78, but close back below the level in trading today.

Although the price is off the early January low of $3.56, it is well off the high price from October at $6.46.

Natural gas futures