Crude oil settles at $72.28.

<p>The price of crude oil isn't selling at $72.28. That's down $-1.54 or -2.09%. The low for the day was at $71.79. The high for the day was at $74.52. </p><p>The price decline comes despite the stronger-than-expected US jobs report and other reports that Biden has decided on a counterattack plan in retaliation for the killing of US servicemen. In addition, remember the talk of a truce yesterday? Some of those hopes have been dashed.</p><p>Despite all those reasons, the price of oil remains under pressure in trading today.</p><p>For the trading week, the price is down -7.63%. The closing level last week was up at $78.01.</p><p>The high price this week reached $79.29, while the low price was reached today at $71.79. Of interest technically on the weekly chart is that the 200-week moving average comes in at $71.77. The low today (and this week) was just below the low price for the day and for the week. That MA will be a key barometer for buyers and sellers in the new trading week ahead (bullish above/bearish below). </p>

This article was written by Greg Michalowski at www.forexlive.com.