Crude Oil WTI May '20 (CLK20)
Crude Oil WTI Futures Market News and Commentary
Mar WTI crude oil (CLH23) on Friday closed down -2.49 (-3.28%), and Mar RBOB gasoline (RBH23) closed down -13.13 (-5.35%).
Crude oil and gasoline prices Friday sold off to 3-week lows and closed sharply lower. A rally in the dollar index (DXY00) to a 3-week high Friday undercut energy prices. Crude was also under pressure on signs of an uneven recovery in China, keeping the country's energy demand depressed.
An uneven recovery in China's economy from ending pandemic restrictions is negative for crude prices. Although a surge in consumer spending last month during the Lunar New Year holiday spurred optimism about China's rebound, signs of weakness among manufacturers and sales of cars and homes signal the recovery isn't yet on a sure footing.
Friday's U.S. economic data signals economic strength that supports energy demand and crude prices. Jan nonfarm payrolls surged +517,000, much stronger than expectations of +188,000 and the largest increase in 6 months. ... Read more
- Friday's Last Call: Crude Oil's Hard Fall
The WTI crude oil market fell hard Friday, but there was much more to the selloff than just January's nonfarm payrolls number.
- Crude Slumps on Dollar Strength and Suspect Chinese Energy Demand
Mar WTI crude oil (CLH23 ) on Friday closed down -2.49 (-3.28%), and Mar RBOB gasoline (RBH23 ) closed down -13.13 (-5.35%). Crude oil and gasoline prices...
- Nat-Gas Falls as Heating Demand Wanes and Inventories Climb
March Nymex natural gas (NGH23 ) on Friday closed down -0.046 (-1.87%). March nat-gas Friday tumbled to a 2-year nearest-futures low and closed moderately...
- Dollar Strength and Suspect Chinese Energy Demand Weighs on Crude Prices
Mar WTI crude oil (CLH23 ) this morning is down -0.91 (-1.20%), and Mar RBOB gasoline (RBH23 ) is down -8.07 (-3.29%). March Nymex natural gas (NGH23)...
- Oil Hokey Pokey
You put the oil in, you take the oil out, you put the oil in, and you shake it all around. You do the hokey pokey and you turn yourself around. That’s...
- Jobs Friday
Will the numbers propel the markets Higher?