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Crude Oil WTI Dec '24 (CLZ24)

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Crude Oil WTI Futures Market News and Commentary

Crude Prices Weighed Down by a Stronger Dollar and Oversupply Concerns

January WTI crude oil (CLF25) Friday closed down -1.10 (-1.61%), and January RBOB gasoline (RBF25) closed down -0.0263 (-1.36%).

Crude oil and gasoline prices posted moderate losses on Friday, with crude sliding to a 2-1/2 week low and gasoline falling to a 2-month low.  A stronger dollar Friday weighed on energy prices.  Crude prices were also under pressure Friday on a report from Macquarie Group that projects a "heavy surplus" of more than 1 million bpd next year as non-OPEC supply growth makes up for any supply restraints from OPEC+.  Limiting losses in crude was better-than-expected US economic reports on Nov payrolls and Dec consumer sentiment, supportive factors for energy demand.

Friday's global economic news was mixed for crude prices.  On the negative side, the US Nov unemployment rate unexpectedly rose +0.1 to 4.2%, showing a weaker labor market than expectations of no change at 4.1%.  Also, German Oct industrial production unexpectedly fell -1.0% m/m, weaker... 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
$6,011/6,013
First Notice Date
11/22/24
Expiration Date
11/20/24 (expired)

Seasonal Chart

Crude Oil WTI Dec '24
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Dec 3, 2024

View Chart Details
Commercials - Long / Short
717,612 (+8,804)
929,209 (+13,793)
Non-Commercials - Long / Short
322,841 (+8,323)
121,377 (+7,266)
Producers - Long / Short
561,683 (+7,366)
341,528 (-239)
Swap Dealers - Long / Short
43,387 (-1,015)
475,139 (+11,579)
Managed Money - Long / Short
192,032 (+7,015)
77,211 (-1,397)
Other Reportables - Long / Short
130,809 (+1,308)
44,166 (+8,663)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
66.61 +3.39%
on 11/18/24
72.88 -5.50%
on 11/07/24
+0.18 (+0.26%)
since 10/18/24
3-Month
64.16 +7.34%
on 09/10/24
77.70 -11.36%
on 10/08/24
-3.03 (-4.21%)
since 08/20/24
52-Week
64.16 +7.34%
on 09/10/24
81.76 -15.77%
on 04/12/24
-6.11 (-8.15%)
since 11/20/23

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Crude Prices Weighed Down by a Stronger Dollar and Oversupply Concerns

January WTI crude oil (CLF25 ) Friday closed down -1.10 (-1.61%), and January RBOB gasoline (RBF25 ) closed down -0.0263 (-1.36%). Crude oil and gasoline prices posted moderate losses on Friday, with crude...

CLF25 : 67.20s (-1.61%)
RBF25 : 1.9062s (-1.36%)
Nat-Gas Prices Pressured by Warmer US Weather Forecasts

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NGF25 : 3.076s (-0.10%)
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Crude Prices Slip on Dollar Strength and Oversupply Concerns

January WTI crude oil (CLF25 ) today is down -0.94 (-1.38%), and January RBOB gasoline (RBF25 ) is down -0.0255 (-1.32%). Crude oil and gasoline prices today are moderately lower, with crude posting a...

CLF25 : 67.20s (-1.61%)
RBF25 : 1.9062s (-1.36%)
WTI Crude Slides Below Key Support as Bullish Sentiment Wanes

WTI Crude Oil futures were marginally lower yesterday despite the OPEC+ decision to delay output hikes and bring supply back on line at a slower pace than previously expected.

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 71.16
2nd Resistance Point 70.66
1st Resistance Point 69.76
Last Price 68.87s
1st Support Level 68.36
2nd Support Level 67.86
3rd Support Level 66.96

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52-Week High 81.76
Fibonacci 61.8% 75.04
Fibonacci 50% 72.96
Fibonacci 38.2% 70.88
Last Price 68.87s
52-Week Low 64.16

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