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WTI crude oil futures settle at $115.07

The WTI crude oil futures price settled at $115.07. That’s up $0.98 or 0.86%. Last week, the price settled at $110.28. The gain for the week was $4.79 or 4.34% 4.34%.

Looking at the hourly chart below, the price moved back above its 100 and 200 hourly moving averages on Wednesday. During yesterday’s trading, the Converging Moving Averages held support, which eventually led to a breakout of a swing zone between $111.37 and $111.96. Today’s run up took the price to a high of $115.30. This was just below the April 18 high price of $115.56.

A move above this level would open the door for further bullish momentum in the new trading week.

Crude oil rallies towards May high at $115.56

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