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Crude Oil WTI Nov '16 (CLX16)

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Crude Oil WTI Futures Market News and Commentary

Easing Geopolitical Risks in the Middle East Weigh on Crude

June WTI crude oil (CLM24) on Friday closed down -0.84 (-1.06%), and June RBOB gasoline (RBM24) closed down -4.14 (-1.59%).

Crude oil and gasoline prices Friday were under pressure the entire day and posted 1-1/2 month lows.   Improved prospects for a cease-fire in the Israeli-Hamas war have curbed geopolitical risks in the Middle East and undercut crude prices.  Also, US energy demand concerns are negative for crude due to Friday's weaker-than-expected economic reports on Apr nonfarm payrolls and the Apr ISM services index.  Limiting losses in crude was Friday's fall in the dollar index (DXY00), which fell to a 3-week low.  

Easing geopolitical tensions reduces the risk premium for crude and is bearish for prices.  Hamas said on Friday that it was studying the current cease-fire proposal and plans to send a delegation to Egypt to continue negotiations.  The improved cease-fire prospects reduce the chances of an escalation of the Israel-Hamas conflict that could jeopardi... 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
10/24/16
Expiration Date
10/20/16 (expired)

Seasonal Chart

Crude Oil WTI Nov '16
Average Price Chart for 5 Prior Nov 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
44.19 +14.12%
on 09/27/16
51.93 -2.89%
on 10/19/16
+6.38 (+14.48%)
since 09/20/16
3-Month
40.77 +23.69%
on 08/03/16
51.93 -2.89%
on 10/19/16
+3.24 (+6.87%)
since 07/20/16
52-Week
34.10 +47.89%
on 01/20/16
53.39 -5.54%
on 06/09/16
-0.84 (-1.64%)
since 10/20/15

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Easing Geopolitical Risks in the Middle East Weigh on Crude

June WTI crude oil (CLM24 ) on Friday closed down -0.84 (-1.06%), and June RBOB gasoline (RBM24 ) closed down -4.14 (-1.59%). Crude oil and gasoline prices Friday were under pressure the entire day and...

CLM24 : 78.11s (-1.06%)
RBM24 : 2.5551s (-1.59%)
DXY00 : 105.030s (-0.26%)
Nat-Gas Prices Soar on the Outlook for US Nat-Gas Supplies to Tighten

June Nymex natural gas (NGM24 ) on Friday closed up by +0.107 (+5.26%). June nat-gas prices Friday climbed to a 3-month nearest-futures high and settled sharply higher. Gas prices surged Friday after...

NGM24 : 2.142s (+5.26%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 52.08
1st Resistance Point 51.26
Last Price 50.43s
1st Support Level 49.93
2nd Support Level 49.42
3rd Support Level N/A

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52-Week High 53.39
Last Price 50.43s
Fibonacci 61.8% 46.02
Fibonacci 50% 43.74
Fibonacci 38.2% 41.47
52-Week Low 34.10

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