Crude oil posts its best week since August

The price of WTI crude oil futures are settling at $71.67. That's up $0.73 or 1.03% from its settlement price yesterday.

The week was the best since August. Last week the price closed at $66.26. From that closing level the price was up $5.41 or 8.2%.

The high price for the week reached $73.34 during trading yesterday. The low price was Monday's low at $66.72.

Looking at the daily chart below, the move higher on Monday and Tuesday took the price back above the 200 day moving average currently at $70.11. The settled price this week as above that level. Stay above and the new week in the buyers will look toward the higher 100 day moving average at $74.08 as the next major target (blue line in the chart above)