US crude oil futures settle at $58.36

Up $.27 or 0.46%

The US crude oil futures are settling the day at $58.36. That is up $.27 or 0.46%. The close is just off the high for the day

• The high extended to $58.38
• The low reached $57.63

Yesterday crude oil inventories fell by a greater than expected -6495K vs -3150K estimate. It was the 5th consecutive decline in inventories.

Technically, the contract is testing a topside trend line. The pair is consolidating in a triangle (bull flaggish). A break above the topside trend line would be more bullish.

Brent oil futures are settling at at $69.90. That is up $.34 or 0.53%.