WTI crude oil futures settle at $76.64 ...Middle East

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WTI crude oil futures settle at $76.64
The price of WTI crude oil futures are settling at $76.64. That's down -1.23% or -1.58%.The high-priced today reached $78.77. The low price extended to $76.64.Technically, the price fell below its 100 and 200 day moving averages today at $77.94 and $77.38. Stay below each is more bearish.The move to the downside was aided by a sharp rise in oil inventories. They showed a huge build of 12.018M (vs 2.56M estimate). Although distillates and gasoline showed larger than expected drawdowns, it did not approach the build in the oil inventories. Crude Oil Stocks:Actual: Increased by 12.018 million barrelsReuters Poll Forecast: Increase of 2.560 million barrelsPrior Week: Increased by 5.521 million

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