Norwegian oil strike called off

Crude oil has moved lower on the news

A headlines crossing the wires saying that Norwegian oil strike has been called off. That has led to a move back down in the price of WTI crude oil futures. After trading as high as $41.47 today, the price has moved back down to a low of $40.58. We currently trade at $40.64 $-0.55 for -1.3% on the day.

Technically, the price moved above its 200 day moving average at $41.12 on its way to the high price of $41.31. However the news did send the price back below that level and toward the rising 100 day moving average at $40.27.