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Crude Oil WTI Sep '20 (CLU20)

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Crude Oil WTI Futures Market News and Commentary

Crude Climbs After Saudi Arabia Hikes Oil Prices

June WTI crude oil (CLM24) this morning is up +0.52 (+0.67%), and June RBOB gasoline (RBM24) is up +2.38 (+0.93%).

Crude oil and gasoline prices this morning are moderately higher.  Sunday's action by Saudi Arabia to raise crude prices for delivery next month for Asian customers signals confidence in global energy demand and is bullish for crude prices.  Also, fading prospects for a cease-fire in Gaza boosted geopolitical tensions in the Middle East and boosted the risk premium for oil prices.  In addition, today's rally in the S&P 500 to a 3-week high shows confidence in the economic outlook that is positive for energy demand and crude prices.

In a bullish factor for crude oil prices, Saudi Arabia's state owned Aramco Sunday raised crude prices for June delivery to Asian customers by 90 cents a barrel, above the consensus of 60 cents.

Reduced hopes for a Israel-Hamas ceasefire are bullish for crude oil prices.  Weekend talks for a cease-fire broke up inconclusivel... Read more

Contract Specifications

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Contract
Crude Oil West Texas Intermediate
Contract Size
1,000 U.S. barrels (42,000 gallons)
Tick Size
1 cent per barrel ($10.00 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (RTH 8:00a.m. - 1:30p.m.) (Settles 1:30p.m.) CST
Exchange
NYMEX
Point Value
$1,000
Margin/Maintenance
$6,663/6,058
First Notice Date
08/24/20
Expiration Date
08/20/20 (expired)

Seasonal Chart

Crude Oil WTI Sep '20
Average Price Chart for 5 Prior Sep Contracts

Commitment of Traders Positions as of Apr 30, 2024

View Chart Details
Commercials - Long / Short
640,379 (+16,325)
949,122 (+17,543)
Non-Commercials - Long / Short
392,782 (+11,304)
127,321 (+10,679)
Producers - Long / Short
508,370 (+18,097)
421,463 (+22,892)
Swap Dealers - Long / Short
41,703 (+116)
437,353 (-3,461)
Managed Money - Long / Short
245,431 (+6,606)
86,726 (+9,303)
Other Reportables - Long / Short
147,351 (+4,698)
40,595 (+1,376)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
38.72 +9.97%
on 07/30/20
43.52 -2.16%
on 08/05/20
+1.66 (+4.06%)
since 07/20/20
3-Month
31.88 +33.56%
on 05/22/20
43.52 -2.16%
on 08/05/20
+8.20 (+23.85%)
since 05/20/20
52-Week
21.99 +93.63%
on 04/22/20
61.44 -30.70%
on 01/08/20
-10.07 (-19.13%)
since 08/20/19

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Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 43.58
1st Resistance Point 43.08
Last Price 42.58s
1st Support Level 41.79
2nd Support Level 41.00
3rd Support Level N/A

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52-Week High 61.44
Fibonacci 61.8% 46.37
Last Price 42.58s
Fibonacci 50% 41.72
Fibonacci 38.2% 37.06
52-Week Low 21.99

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