Crude Oil WTI Apr '21 (CLJ21)
Crude Oil WTI Futures Market News and Commentary
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.<... Read more
- Natural gas Weekly Forecast
An uptrend will start as soon, as the market rises above resistance level 2.771, which will be followed by moving up to resistance level 2.900 and if it...
- Crude oil Weekly Forecast
An downtrend will start as soon, as the market drops below support level 63.80, which will be followed by moving down to support level 58.60
- Midday Market Minute
S&P, NQ, Crude, Gold, Silver, and more
- U.S. Ethanol Exports Accelerate for a Record-High January
January 2021 US ethanol/DDGS exports and imports report.
- Crude, Gold, Silver - Blue Line Morning Express
The Nonfarm Payroll roadmap for the week ahead
- Energy futures trade ideas for Friday March 5
We present trade ideas for energy futures for Friday