Crude oil futures settle at $70.38 ...Middle East

The price of crude oil futures are settling at $70.38. That is down $-1.27 or -1.77%.The high price for the day reached $73.64. The low price was up $70.06.The low price December reached down to $67.71 on December 13. That was just ahead of another swing target area near $67.15. The low price for 2023 was down at $63.64 (see yellow area on the daily chart above).Fundamentally, oil prices initially rose due to tensions in the Red Sea including the US destruction of three Houthi ships, Iran's deployment of a warship, and Maersk suspending sailings after an attack on one of its ships on December 30th.However, as the US session commenced, oil prices turned around and headed to the downside. Stoc

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