Crude Oil Testing Lows

WTI futures are moving lower again on Friday, dropping back below 83 per barrel to test lows at 81.22. The market has been choppy over the last few days, with the price touching 87 briefly before being rejected as hopes for additional QE in the U.S. were dashed during the Fed Chairman’s testimony before congress yesterday.

United States Oil ETF (NYSE: USO) is lower by 2.27 percent in pre-market trading, at 31.72. WTI futures are trading at 82.86, and Brent is trading at 97.48 per barrel.

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