Crude Oil WTI Feb '19 (CLG19)
Crude Oil WTI Futures Market News and Commentary
September WTI crude oil (CLU26) closed up +0.89 (+1.05%) on Wednesday, and September RBOB gasoline (RBU26) closed down -0.0466 (-1.41%).
Crude oil and gasoline prices settled mixed on Wednesday, with crude oil posting a 4-week high. Wednesday’s sharp decline in the dollar index ($DXY) to a 2.5-month low was bullish for energy prices. Also, the lack of a clear path to a resolution in the Middle East is keeping the Strait of Hormuz closed and limiting crude supplies from the Middle East, keeping upward pressure on oil prices. Crude prices fell from their best level and gasoline prices turned negative on Wednesday after weekly EIA crude inventories rose more than expected and gasoline supplies unexpectedly rose.
Crude prices moved higher on Wednesday as Middle East tensions intensified after the United Arab Emirates said it was cutting all economic ties with Iran after accusing Iran of firing ballistic missiles at its territory.
On Monday, President Trump said he'... Read more
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September WTI crude oil (CLU26) closed up +0.89 (+1.05%) on Wednesday, and September RBOB gasoline (RBU26) closed down -0.0466 (-1.41%). Crude oil and...
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