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Crude Oil WTI Jul '23 (CLN23)
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Crude Oil WTI Futures Market News and Commentary

Crude Closes Higher as Risk Assets Climb on Progress in Debt Ceiling Negotiations

July WTI crude oil (CLN23) on Friday closed up +0.84 (+1.17%), and July RBOB gasoline (RBN23) closed up +3.87 (+1.52%).  

Crude oil and gasoline prices Friday posted moderate gains.  Signs that U.S. lawmakers are close to a deal to raise the debt ceiling sparked a rally in stocks and risk assets Friday.   Also, stronger-than-expected U.S. economic news Friday showed strength in the economy that supports energy demand and crude prices.  However, gains in crude were limited after the dollar index rose to a 2-1/4 month high.  

Stronger-than-expected U.S. economic reports Friday were bullish for energy demand and crude prices.  Apr personal spending rose +0.8% m/m, stronger than expectations of +0.5% m/m.  Also, Apr capital goods orders nondefense ex-aircraft and parts, a proxy for capital spending, unexpectedly rose +1.4% m/m, stronger than expectations of a -0.1% m/m decline and the biggest increase in 16 months.  In addition, the University of Michigan U.S. May consumer s... 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
$6,380/5,800
First Notice Date
06/22/23 (25 days)
Expiration Date
06/20/23 (23 days)

Seasonal Chart

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

Commitment of Traders Positions as of May 23, 2023

View Chart Details
Commercials - Long / Short
705,745 (-24,891)
923,131 (-23,117)
Non-Commercials - Long / Short
317,600 (-10,371)
124,481 (-12,021)
Producers - Long / Short
525,835 (-7,390)
505,442 (-13,751)
Swap Dealers - Long / Short
80,479 (-9,757)
318,258 (-1,622)
Managed Money - Long / Short
196,246 (-13,138)
76,588 (-1,126)
Other Reportables - Long / Short
121,354 (+2,767)
47,893 (-10,895)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
63.89 +13.74%
on 05/04/23
76.74 -5.30%
on 04/28/23
-1.52 (-2.05%)
since 04/26/23
3-Month
63.89 +13.74%
on 05/04/23
82.91 -12.35%
on 04/12/23
-3.66 (-4.79%)
since 02/24/23
52-Week
63.89 +13.74%
on 05/04/23
99.10 -26.67%
on 06/08/22
-18.68 (-20.45%)
since 05/26/22

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Most Recent Stories

More News
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Which climatic variables signify an El Niño?

Jim's report on recent market changes to ponder over the Memorial Day weekend .... (as you prep for next week)

ZCZ23 : 534-4s (+3.59%)
ZSX23 : 1189-4s (+1.47%)
ZWN23 : 616-0s (+1.94%)
KEN23 : 819-2s (+0.15%)
LEZ23 : 173.225s (+0.22%)
CTZ23 : 80.54s (+2.60%)
SBN23 : 25.37s (+2.17%)
KCN23 : 181.60s (-0.60%)
NGN23 : 2.417s (-2.38%)
Crude Closes Higher as Risk Assets Climb on Progress in Debt Ceiling Negotiations

July WTI crude oil (CLN23 ) on Friday closed up +0.84 (+1.17%), and July RBOB gasoline (RBN23 ) closed up +3.87 (+1.52%). Crude oil and gasoline prices Friday posted moderate gains. Signs that U.S....

CLN23 : 72.67s (+1.17%)
RBN23 : 2.5913s (+1.52%)
Nat-Gas Prices Under Pressure from Mild U.S. Temperatures

June Nymex natural gas (NGM23 ) on Thursday closed down -0.126 (-5.46%). Jun nat-gas Friday dropped to a 2-week low and closed sharply lower. Forecasts for seasonal U.S. temperatures that will reduce...

NGN23 : 2.417s (-2.38%)
Crude Rallies with Risk Assets on Signs of Progress in Debt Ceiling Negotiations

July WTI crude oil (CLN23 ) this morning is up +0.71 (+0.99%), and July RBOB gasoline (RBN23 ) is up +3.05 (+1.19%). June Nymex natural gas (NGM23 ) is down -0.083 (-3.60%). Crude oil and gasoline prices...

CLN23 : 72.67s (+1.17%)
RBN23 : 2.5913s (+1.52%)
NGN23 : 2.417s (-2.38%)
One Dollar Per Headline

Give me a headline, and I’ll give you a dollar. The debt showdown negotiations dominated the oil market and the perceived progress on the negotiations, or the lack there of, caused oil to move as the...

Is it Too Early for a Weather Market in Grains?

Grain and oilseed contracts are weather derivatives at heart, so a weather market can develop at any time.

KEN23 : 819-2s (+0.15%)
ZCZ23 : 534-4s (+3.59%)
ZSX23 : 1189-4s (+1.47%)
Memorial Day

Today is the day before a major holiday in the US. What can we expect? Read on to learn more...

Crude Prices Tumble as OPEC+ Expected to Maintain Crude Production Targets

July WTI crude oil (CLN23 ) on Thursday closed down -2.51 (-3.38%), and July RBOB gasoline (RBN23 ) closed down -6.74 (-2.57%). Crude oil and gasoline prices Thursday fell sharply. A rally in the dollar...

CLN23 : 72.67s (+1.17%)
RBN23 : 2.5913s (+1.52%)
Nat-Gas Prices Drop as U.S. Weather Forecasts Turn Cooler

June Nymex natural gas (NGM23 ) on Thursday closed down -0.091 (-3.79%). Jun nat-gas Thursday fell to a 1-1/2 week low and closed moderately lower as updated U.S. weather forecasts turned cooler, curbing...

NGN23 : 2.417s (-2.38%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point 74.88
2nd Resistance Point 73.96
1st Resistance Point 73.32
Last Price 72.67s
1st Support Level 71.76
2nd Support Level 70.84
3rd Support Level 70.20

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52-Week High 99.10
Fibonacci 61.8% 85.65
Fibonacci 50% 81.49
Fibonacci 38.2% 77.34
Last Price 72.67s
52-Week Low 63.89

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