Up $0.69 or 1.68%
The price of WTI crude oil futures are settling at $41.70. That’s just below the 50% retracement of the 2020 trading range for the September contract at $41.71.
The high for the day did extend above that midpoint level all the way up to $42.08 before backing off into the close. The low price for the day reached $40.14.
Since the bottom in April, the high corrective price has extended to $42.51. That was on July 21. There have been 3 closes above the 50% retracement level, with the highest close at $41.92