%%%%%% Well nice long term UP trend,poco; but XOM said $20/+[ uneeded] speculator premium. +,last nickel out of a trend is always the most costly.............................................................................................................................................................................. If your cost/production cost was like Bunker Hunt's [Hunt oil] longer term holds could have made money, maybe.
While historical volatility in CL has been on the steady decline, the average true daily trading range has been 133 tics. IMHO setting a stop-loss less than the average daily trading range was just baiting the market to stop you out. On the other hand, your stop did have legitimate grounds in terms of recent market technicals on a daily chart but 104.25 might have been more appropriate looking at the weekly.