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Crude Oil WTI Apr '21 (CLJ21)

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Crude Oil WTI Prices for [[ item.sessionDateDisplayLong ]]
Find the latest Crude Oil WTI prices and Crude Oil WTI futures quotes for all active contracts below.
[[ timeframe ]] futures price quotes as of Sun, Mar 7th, 2021.
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Crude Oil WTI Futures Market News and Commentary

Crude and Gasoline Soar to 1-3/4 Year Highs on Concern OPEC+ May Overtighten the Global Oil Market

Apr WTI crude oil (CLJ21) on Friday closed up +2.26 (+3.54%), and Apr RBOB gasoline (RBJ21) closed up +6.68 (+3.34%).

Crude oil and gasoline prices on Friday rallied sharply for a second day up to 1-3/4 year highs. Crude prices have moved sharply higher on concern that the unexpected action by OPEC+ on Thursday not to increase its crude production levels will overtighten the global crude market. Gains in crude and gasoline accelerated Friday morning on a stronger-than-expected monthly U.S. payroll report. Crude oil prices were undercut Friday by a rally in the dollar index to a new 3-1/4 month high.

Crude prices rallied on positive carry-over from Thursday when OPEC+ decided to keep its crude production levels unchanged for April versus market expectations for an increase of at least +1.0 million bpd. Also, crude prices garnered support after Saudi Arabia said it would maintain its 1.0 million bpd voluntary cut in crude production for April.

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