Crude oil futures are ending the week at $62.04/BBL

Up $1.92 or 3.19%The price of crude oil surged today on the back expectations of strong growth from a strong US economy. The futures contract is closing at $62.04. That is up $1.92 from yesterday’s close or 3.19%.

For the week, the price is ending higher vs. the close a week ago at around the $61.45 level in an up and down and up market.  The low for the week reached $59.95, just below a key support level at $60.00.  
Technically, the price is closing above it’s 100 and 200 hour MAs at $61.63 and $61.78 respectively (bullish). 

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