Crude Oil WTI Mar '16 (CLH16)
Crude Oil WTI Futures Market News and Commentary
Jul WTI crude oil (CLN20) on Tuesday closed up +1.10 (+3.31%) at $34.35, Jul Brent crude oil (CBN20) closed up +0.64 (+1.86%) at $36.17, and Jul RBOB gasoline (RBN20) closed up +0.0130 (+1.24%).
The energy complex on Tuesday moved higher with WTI crude at a 2-1/2 month high. Crude oil prices are seeing support from reduced global oil production, a weaker dollar, and improved global economic optimism.
Crude prices jumped Tuesday morning on comments from Russian Energy Minister Novak who said that the global oil market may be in balance in June-July as crude producers around the world have cut the global oil supply by 14-15 million bpd.
The energy complex was underpinned Tuesday by a rally in stocks that bolsters optimism in the economic outlook and energy demand. The S&P 500 climbed to a 2-1/2 month high Tuesday on the prospects of economies reopening from coronavirus lockdowns. Japan ended its state of emergency everywhere in the country. Deutsche Presse-Agentur... Read more
- Unlocking The Potential. The Energy Report 05/26/2020
The crude oil market is having its best month percentage wise in history as we start to unlock the global economy. Oil demand is coming [...]
- WTI Crude oil Tuesday forecast May 26
The uptrend may be expected to continue in case the market rises above resistance level 34.65, which will be followed by reaching resistance level 36.30...
- Mixed Market into the Holiday
The markets traded MIxed last Friday prior to the Memorial Day holiday. Will this change today? Read on to learn more....