WTI crude oil settles sharply lower on the day | Forexlive

The price of WTI crude oil is settling down -$3.95 or -4.62% at $81.64. The price settled at $85.59 yesterday.

The move to the downside today was helped by expectations of lower demand for China as a result of another spike higher in Covid cases. A stronger USD also helped contribute to the decline, as did less tension after the missile strike in Poland was refuted and believed to friendly fire from Ukraine defenses.

The low price today reached $81.42. The high was up at $85.42.

• The price of crude is up 8.52% from the end of December 2021 level at $75.35.
• Conversely, the price is down -34.40% from the high close at $123.15.
• A year ago, the price of crude oil was at $78.21. The price is up 4.56% from that level.

What about gas prices in the US:

• The price of a gallon of gas in the US is around $3.76.
• That is down from a high just above $5.00 or -25.06%.
• From the end of 2021, the price is up around 14.87%.
• From a year ago the price is up around 10.68%%.