January 19, 2022

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Crude oil futures settle at $74.83

1 min read

Down -$0.46 or -0.61%

The price of crude oil futures are settling at $74.83. That is down $0.46 or my 0.61%. The high for the day reached $75.79. The low extended to $73.74.  The close is near the middle of that trading range.

The weekly inventory data today a build of 4.6 million barrels versus a $-2.48 million estimate. 

Meanwhile in the natural gas market, the price is down $0.37 today two $5.50. That’s a -6.39% decline. Despite the decline the one week move in natural gas is up 14.61% as markets worry about supply chain and supply concerns. The month’s gain is over 25%. That is the largest gain since October 2020.
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