Futures News Oil 

What’s going on with oil prices?

“Up and down but with no direction Nearby October crude oil futures on the NYMEX futures exchange settled at $56.42 per barrel on Friday, September 6” reports etfdailynews.com. The US economy is sensitive to oil prices, but not like in the old days Meanwhile, falling crude oil price was great news for the US economy in the old days when the world’s leading consumer nation was dependent on Middle Eastern crude oil supplies.The United States has become the world’s leading producer of crude oil.These days an energy-friendly administration combined with technological advances in extracting crude oil from the crust of the earth has made the US the world’s leading producer of oil.The technical state of the market could be telling us that crude oil is heading for the top end of its trading range.
 
Source: etfdailynews.com



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