Bitcoin 
Ethereum 
Tether 
XRP 
BNB 
USDC 
Solana 
TRON 
Lido Staked Ether 
Figure Heloc 
The price of crude oil is settling at $96.57. That is down $-1.30 or -1.33% on the day.For the week, the price is down $-16 or -14.29%. The price is also below the 100 and 200 hour moving averages at $102.87 and $103.57. The big catalyst was the announcement of a cease-fire and the potential for the re-opening of the Straits of Hormuz. Although, not fully open (it is virtually closed still), the market is discounting some sort of reopening soon). The June contract is trading at $89.13.The price low on February 26 came in at $63.81, just ahead of the war starting on February 28. The initial upside move pushed prices to a close of $71.02 on March 2, before momentum accelerated sharply. That surge over the next few days took the price to a high of $119.48 on March 9. A sharp correction followed, with the low on March 10 reaching $76.73, but buyers stepped back in and drove the price higher again, peaking at $117.62 earlier this week. Since then, the market has seen another pullback, with the low this week coming in at $91.05.Bottom line: The swings—from the mid-$60s to near $120 and back toward $90—underscore just how volatile and headline-driven this market has become.
This article was written by Greg Michalowski at investinglive.com.
💡 DMK Insight
Crude oil’s drop to $96.57 signals a critical shift in market sentiment. A $16 decline this week, translating to a 14.29% drop, indicates that traders are reacting to broader economic concerns, likely tied to demand fears amid potential global slowdowns. With prices now below the 100 and 200-hour moving averages at $102.87 and $103.57 respectively, this could suggest a bearish trend in the short term. Traders should watch for potential support levels around $95, as a break below could trigger further selling pressure. On the flip side, if prices stabilize and rebound above the moving averages, it could indicate a buying opportunity, especially if geopolitical tensions or supply chain issues resurface. Keep an eye on inventory reports and OPEC announcements, as these could provide additional context for price movements in the coming days.
📮 Takeaway
Watch for crude oil to hold above $95; a break below could lead to more selling pressure, while a rebound above $102.87 could signal a buying opportunity.
