US crude oil is down by $1.05 (-1.32%); currently trading around $78.63 per barrel

WTI crude oil is down to $78.63 per barrel, after ending Friday at $79.68. Overall, a 1.32% loss or $1.05 today.

Crude Oil's upper Bollinger Band® is at $80.31 which indicates a further downward move may follow.

Overall, looking at the technical analysis landscape, it seems West Texas crude is likely to continue pointing down in the short term.

Taking a look at other Energy commodities, negative performances are evident as Natural Gas is down to $2.62, losing 37.6 cents, after closing at $3 in the preceding trading session. Heating Oil is trading around $2.87 (down 4.81 cents). Brent Crude Oil is down $1.13 from the beginning of the session and now trades around $84.7.

Furthermore, United States Fed Chair Powell testimony set for tomorrow at 15:00 UTC. United States EIA Short-Term Energy Outlook will be released tomorrow at 17:00 UTC.

US crude oil has fallen back around 36.14% from the significant high of $124.77 set 11 months ago.