.Crude oil futures is settling at $69.15 after trying to rebound for the very first time in 4 exchanging days. It was not meant to become. The rate is shutting reduced for the 4th successive day.The high for the time got to $70.78. The low for the day achieved $68.79. What is actually certainly not rational is actually that the inventory records continued to show drawdowns. Today the petroleum inventories possessed a drawdown of -6.873 thousand barrels. Additionally OPEC took back October production decreases that were actually introduced just final week.Technically, the cost high last week stalled only in advance of its 200-day relocating standard. This week the rate dropped listed below an up sloping trendline near $72.26 (view graph over). On the downside, a swing region interposes $66.86 and also $67.74, as well as currently embodies the upcoming intended area on additional selling momentum.Overall the cost is actually trading at the lowest degree returning to December 2023. The rate in the end of December shut the year at $71.29. The higher rate reached $87.59 back on April 5. Today's low was actually the low for the year.