December WTI Crude Oil futures experienced choppy price action, briefly trading from a high of $60.44 to a low of $59.32 before rallying back above the daytime opening price, but remained below Friday's close, down about 0.13%. WTI Crude Oil futures continued to test the 50-day moving average but struggled to break and hold above it, while the 200-day moving average sits close overhead. The price of Russia’s flagship Urals crude oil dropped to $36.61 per barrel, its lowest level in nearly three years, following the announcement of new U.S. sanctions on Rosneft and Lukoil. This widening price discount reduced Russia's oil revenues, but the immediate impact on WTI Crude Oil futures was muted. Domestically, U.S. crude oil inventories were at approximately 427.6 million barrels in mid-November, about 4% below the five-year average for this time of year, suggesting a moderately tight supply supportive of current prices.