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Crude oil prices closed at $75.44, marking a decline of $0.39, or 0.51%, for the day. This represents a 6.60% drop from the high of $80.73 reached on January 15. Today’s lowest price was $75.31, while the highest point reached $76.42.
On the daily chart, the price is nearing the 200-day moving average (MA) at $75.07. If crude oil falls below this level and remains there, technical indicators suggest that sellers could gain more control in the market.
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