Crude Oil WTI Jun '14 (CLM14)
Crude Oil WTI Futures Market News and Commentary
Jan WTI crude oil (CLF20) on Tuesday closed down by -1.79 (-3.13%), Jan Brent crude oil (CBF20) closed down -1.53 (-2.45%), and Jan RBOB gasoline (RBF20) closed down by -0.177 (-1.10%).
The energy complex sold off sharply Tuesday with Jan WTI crude at a 2-week low and Jan Brent crude and Jan RBOB gasoline at 1-week lows on general concern about weak global economic growth and on signs of ample crude oil supplies.
Crude prices also had negative carry-over from Monday's monthly Drilling Productivity Report from the EIA that projected U.S. shale-oil crude oil production in December will climb by +5.4% m/m to 9.13 million bpd.
Also weighing on the energy complex is an impasse in trade negotiations between the U.S. and China. A lingering trade war is negative for crude prices since it would likely undercut global growth and energy demand.
Tuesday's U.S. economic data was mixed for growth and energy demand prospects after U.S. Oct housing starts rose +3.8% to 1... Read more
- One Day Up, Next Day...
Yesterday the markets traded lower with no apparent reason why. Will we see more downside bias today? Read on to learn more...
- Saudi Slip Up. The Energy Report 11/19/19
What is increasingly looking like a failure of the Saudi government to get foreign interest in the Saudi Aramco public offering is making one wonder [...]...
- Upside Bias = Upside Day
Yesterday the markets moved Higher with little economic news. Will we see the same today? Read on to learn more...
- WTI Crude oil continue uptrend to 58.00 while trading above 56.35
The uptrend may be expected to continue, while pair is trading above support level 56.55 - 56.35, which will be followed by reaching resistance level 58...
- Midday Market Minute
What's the trade - ES, NQ, Crude, Gold, Bonds.
- Vix Warns Of Imminent Market Correction
...investors should be cautious of the extremely low price in the VIX.