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Crude Oil WTI Jan '23 (CLF23)
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Crude Oil WTI Futures Market News and Commentary

Crude Oil Surges as Bank Turmoil Eases

May WTI crude oil (CLK23) on Monday closed up +3.55 (+5.13%), and May RBOB gasoline (RBJ23) closed up +10.03 (+3.93%).  

Crude oil and gasoline prices Monday rallied sharply, with crude posting a 1-1/2 week high and gasoline posting a 2-week high.   A weaker dollar (DXY00) Monday was bullish for energy prices.  Also, easing banking sector concerns sparked a rally in asset prices after U.S. authorities said they were considering expanding a lending facility to help regional banks shore up their balance sheets.

The outlook for stronger Chinese crude oil demand is bullish for prices.  China National Petroleum Corp, the country's largest refiner, predicts that apparent oil demand in China may expand by +5.1% to 756 MMT this year as the country emerges from the pandemic.

China's economic recovery from the pandemic has been slow to materialize and is negative for energy demand and crude prices.  China car sales in Jan-Feb fell -9.4% y/y and international flights from Chi... 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
$6,600/6,000
First Notice Date
12/22/22
Expiration Date
12/20/22 (expired)

Seasonal Chart

Crude Oil WTI Jan '23
Average Price Chart for 5 Prior Jan Contracts

Commitment of Traders Positions as of Mar 21, 2023

View Chart Details
Commercials - Long / Short
719,060 (+23,762)
897,964 (-9,967)
Non-Commercials - Long / Short
303,340 (+813)
148,999 (+22,691)
Producers - Long / Short
551,450 (+33,453)
498,758 (-11,788)
Swap Dealers - Long / Short
70,174 (-5,087)
301,770 (+6,425)
Managed Money - Long / Short
178,905 (-6,702)
126,758 (+37,437)
Other Reportables - Long / Short
124,435 (+7,515)
22,241 (-14,746)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
70.08 +8.58%
on 12/09/22
83.34 -8.70%
on 12/01/22
-4.02 (-5.02%)
since 11/18/22
3-Month
70.08 +8.58%
on 12/09/22
92.53 -17.77%
on 11/07/22
-6.28 (-7.62%)
since 09/20/22
52-Week
64.98 +17.10%
on 12/21/21
108.63 -29.95%
on 06/09/22
+11.50 (+17.80%)
since 12/20/21

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Most Recent Stories

More News
Nat-Gas Prices Plunge on Ample Inventories and Robust Output

April Nymex natural gas (NGJ23 ) on Monday closed down -0.146 (-6.18%). Apr nat-gas Monday tumbled to a 5-week low and closed sharply lower on ample U.S. nat-gas inventories and ramped-up production. ...

NGK23 : 2.225 (-5.76%)
Crude Oil Surges as Bank Turmoil Eases

May WTI crude oil (CLK23 ) on Monday closed up +3.55 (+5.13%), and May RBOB gasoline (RBJ23 ) closed up +10.03 (+3.93%). Crude oil and gasoline prices Monday rallied sharply, with crude posting a 1-1/2...

CLK23 : 72.88 (+5.23%)
RBK23 : 2.6539 (+3.88%)
DXY00 : 102.839 (-0.27%)
Crude Gains Sees Support from Easing Bank Turmoil

May WTI crude oil (CLK23 ) this morning is up +1.60 (+2.31%), and May RBOB gasoline (RBJ23 ) is up +3.88 (+1.52%). April Nymex natural gas (NGJ23 ) is down -0.115 (-5.19%). Crude oil and gasoline prices...

CLK23 : 72.88 (+5.23%)
RBK23 : 2.6539 (+3.88%)
NGK23 : 2.225 (-5.76%)
Is This The Least Optimism Since 2016?

Managed Money Net-Short in Crude Oil is now at the lowest level since January 2016.

Banking On It

Oil prices are trying to recover from the banking fiasco that divorced petroleum prices away from supply and demand fundamentals. Now with reports that First Citizens Bancshares Inc. has agreed to buy...

Up, Down and all around

On Friday the markets traded Higher. What will we see today? Read on to learn more.

Crude oil Weekly Forecast

The downtrend may be expected to continue, while market is trading below resistance level 74,05, which will be followed by reaching support level 64,36.

No Bull | Goin' Green - Part Two

If you missed last week’s No Bull (Part One of Goin’ Green ), I outlined the cause of what I would call the largest fundamental shift in fuel demand in modern times, thanks to California. California’s...

Crude Closes Moderately Lower on Economic Concerns

May WTI crude oil (CLK23 ) on Friday closed down -0.70 (-1.00%), and May RBOB gasoline (RBJ23 ) closed down -1.23 (-0.48%). Crude oil and gasoline prices Friday closed moderately lower due to ongoing...

CLK23 : 72.88 (+5.23%)
RBK23 : 2.6539 (+3.88%)
Nat-Gas Prices Find Support on Colder U.S. Temps

April Nymex natural gas (NGJ23 ) on Friday closed up +0.062 (+2.88%). Apr nat-gas Friday posted moderate gains on expectations for colder U.S temperatures to boost heating demand for nat-gas. Forecaster...

NGK23 : 2.225 (-5.76%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Soft Signal Strength.

Key Turning Points

3rd Resistance Point 79.56
2nd Resistance Point 78.16
1st Resistance Point 77.12
Last Price 76.09s
1st Support Level 74.68
2nd Support Level 73.28
3rd Support Level 72.24

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52-Week High 108.63
Fibonacci 61.8% 91.96
Fibonacci 50% 86.81
Fibonacci 38.2% 81.65
Last Price 76.09s
52-Week Low 64.98

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