Crude Oil WTI Nov '21 (CLX21)
Crude Oil WTI Futures Market News and Commentary
November WTI crude oil (CLX21) this morning is up +1.38 (+1.88%), and November RBOB gasoline (RBX21) is up +0.0279 (+1.31%). October Nymex natural gas (NGV21) is up +0.410 (+7.98%).
Nov WTI crude oil and Nov RBOB gasoline prices this morning are moderately higher, with crude at a 2-1/2 month high and gasoline at a 1-1/2 week high. Concern about tighter global crude supplies is underpinning prices. Crude prices extended their gains today after Bloomberg reported that an OPEC document that said that global crude consumption could rise by an additional 370,000 bpd, nearly 6% of expected growth, if natural gas prices stay high for an extended period. OPEC+ will meet on October 4 to decide on future crude production levels.
Oct nat-gas prices this morning soared to a new 7-1/2 year nearest-futures high. Crude prices continue to climb amid persistent concerns about low U.S. gas inventories ahead of winter, a strong seasonal time for nat-gas demand. As of Sep 17, U.S. n... Read more
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