Up $0.55 ore 0.77%
The price of crude oil futures have settled the day at $72.12. That is up $.55 or 0.77%.
The high price today reached $72.60. The loan extended to $71.71.
News catalysts include
- U.S. sanctions against Iran continue to keep the price supported.
- U.S energy secretary Rick Perry has also ruled out using U.S. strategic crude reserves as a means of lowering the price.
More bearish new came from a report that :
- Saudi Arabia will quietly add extra oil to the market over the next couple of months to offset a drop in Iranian production
The more bullish stories was more of an influence in trading today.