WTI Crude Oil Futures Settle At $40.37

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The August WTI crude oil futures are settling at $40.37. That's down -$0.36 or -0.88%. The high price today reached $41.63. The low extended to $39.76.

WTI crude oil futures Down $-0.36 or -0.88%_

The August contract has a gap from March 6 to March 9. That gap runs from $42.17 to $38.98. The high price today remains between those two levels.

The price high today did get above the 50% retracement of the move down from the January high to the April low. That level came in at $41.25. However the price could not sustain momentum above that level. Getting and staying above that level required to give buyers more confidence.