<p>The price of WTI <a target=“_blank“ href=“https://www.forexlive.com/terms/c/crude-oil/“ target=“_blank“ id=“e1f1b115-23d2-48c8-98c8-24024dada457_2″ class=“terms__main-term“>crude oil</a> settles at $88.96. That was up $2.49 or 2.88% on the day. </p><p>For the trading week, the price a week closed on Friday at $92.44. The price is down -3.75% on the week and was the first decline after two weeks of gains of 3.7% and 4.71% over those weeks. </p><p>In other news today, the Baker Hughes </p><ul><li>rig count rose by 9 to a total of 779. </li><li>The oil rigs increased by 9 to 622. </li><li>Natural gas was unchanged at 155</li></ul><p>Fundamentally, the price of oil was supported by hopes of further easing of Covid restrictions in China.</p>

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