Crude oil ended the day higher, gaining $0.38 or 0.64% to close at $60.13. The market traded within a relatively contained range, with a session high of $60.48 and a low of $59.41. Despite earlier weakness, the late-session buying helped lift prices off the lows as risk sentiment improved and technical buyers stepped in near short-term support.
From a technical standpoint, oil continues to trade in a tight band between key moving averages — the 100-hour MA near $60.00 and the 200-hour MA around $60.29. For most of the day, prices stayed below those averages, but a modest rally into the close brought the market back into that zone.
The close between these levels reflects a neutral near-term bias, with traders looking for a breakout above the 200-hour MA to signal renewed bullish momentum or a move back below the 100-hour MA to tilt the bias lower again.
