Helped by OPEC hope for production cuts
US crude oil futures are settling day at $45.81, up $2.49 or 5.75%.
The low reached $43.55. The high extended to $45.98. As per my earlier post the $46.00 level is a key technical level with the 38.2% retracement and highs from last week at the level. A move above that level should solicit more buying (stops). ON the first look, we are seeing some modest selling though.