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Crude Oil WTI Jun '16 (CLM16)

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Crude Oil WTI Futures Market News and Commentary

Crude Oil Prices Fall on Global Economic Concerns

Nov WTI crude oil (CLX22) on Friday closed down -1.74 (-2.14%), and Nov RBOB gasoline (RBX22) closed down -3.29 (-1.37%).  

Crude oil and gasoline prices Friday fell on fears about a global economic slowdown that would reduce energy demand.  

Crude oil prices saw some underlying support Friday from a weaker dollar and the possibility of reduced OPEC+ production.  The market is expecting that OPEC+, at its meeting next Wednesday (Oct 5), will agree to cut its crude production by at least 500,000 bpd in an attempt to shore up prices.  RBC Capital Markets said OPEC+ might cut its crude output by as much as 1.0 million bpd.

Increased OPEC crude production is bearish for oil prices after market intelligence firm Kpler said Friday that OPEC crude output rose +350,000 bpd in September to 28.89 million bpd, led by increases in Libyan, Nigerian, and Saudi Arabian production.

Crude oil prices have support as China eases some of its pandemic restrictions.  China last We... 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
$9,295/8,450
First Notice Date
05/24/16
Expiration Date
05/20/16 (expired)

Seasonal Chart

Crude Oil WTI Jun '16
Average Price Chart for 5 Prior Jun Contracts

Commitment of Traders Positions as of Sep 27, 2022

View Chart Details
Commercials - Long / Short
598,428 (+8,983)
845,300 (-5,713)
Non-Commercials - Long / Short
333,933 (-8,655)
107,853 (+5,143)
Producers - Long / Short
415,347 (+4,397)
335,011 (-4,683)
Swap Dealers - Long / Short
63,628 (-1,342)
390,836 (-6,958)
Managed Money - Long / Short
190,822 (-15,371)
51,655 (+10,490)
Other Reportables - Long / Short
143,111 (+6,716)
56,198 (-5,347)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
42.50 +12.35%
on 04/26/16
48.95 -2.45%
on 05/18/16
+3.57 (+8.08%)
since 04/20/16
3-Month
33.76 +41.44%
on 02/24/16
48.95 -2.45%
on 05/18/16
+13.16 (+38.05%)
since 02/19/16
52-Week
30.79 +55.08%
on 01/20/16
64.00 -25.39%
on 06/10/15
-14.54 (-23.34%)
since 05/20/15

More Crude Oil WTI Quotes

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Most Recent Stories

More News
Weekly highlights: Heating Oil / Diesels

The fundamentals for kero / diesels tightened last week with US total distillate stocks falling by 2.9mb and demand rising by 769,000 bpd. As a result days cover fell sharply by 7 to 27.4 days. Days...

HOX22 : 3.3544 (+4.12%)
RBX22 : 2.4779 (+4.56%)
ZKV22 : 2.161s (unch)
LOG23 : 3.0167s (-2.38%)
LFX22 : 978.00 (+3.85%)
LGZ22 : 2.3791 (+4.40%)
RBPAUS04.CM : 3.5785 (+0.29%)
RBPAUS06.CM : 4.1941 (+0.30%)
HOPAUS02.CM : 4.1705 (unch)
HOPAUS01.CM : 4.8606 (-0.25%)
XLE : 72.02 (-0.80%)
Weekly highlights: Gasoline

Gasoline fundamentals also improved with stocks falling and demand rising. As a result days cover fell by 1.7 to 24 days. However, demand remains weak. Stocks should continue to edge lower over the...

HOX22 : 3.3544 (+4.12%)
RBX22 : 2.4779 (+4.56%)
ZKV22 : 2.161s (unch)
LOG23 : 3.0167s (-2.38%)
LFX22 : 978.00 (+3.85%)
LGZ22 : 2.3791 (+4.40%)
RBPAUS04.CM : 3.5785 (+0.29%)
RBPAUS06.CM : 4.1941 (+0.30%)
HOPAUS02.CM : 4.1705 (unch)
HOPAUS01.CM : 4.8606 (-0.25%)
XLE : 72.02 (-0.80%)
Weekly highlights: Crude

Crude stocks posted a surprise fall last week but should trend higher over the next 4-6 weeks. Demand surged 1.8m bpd but will likely correct lower. Days cover fell 2 to 20.7 days. Attention is now...

CLX22 : 83.13 (+4.58%)
CBZ22 : 88.94 (+4.46%)
WIZ22 : 82.32 (+4.57%)
QAZ22 : 88.96 (+4.49%)
CLPAUS009.CM : 85.780 (-3.93%)
CLPAUS127.CM : 76.055 (-2.31%)
CLPAUS134.CM : 85.500 (unch)
USO : 65.28 (-2.23%)
XLE : 72.02 (-0.80%)
Crude Oil Prices Fall on Global Economic Concerns

Nov WTI crude oil (CLX22 ) on Friday closed down -1.74 (-2.14%), and Nov RBOB gasoline (RBX22 ) closed down -3.29 (-1.37%). Crude oil and gasoline prices Friday fell on fears about a global economic...

CLX22 : 83.13 (+4.58%)
RBX22 : 2.4779 (+4.56%)
Nat-Gas Prices Decline on Record U.S. Output

Nov Nymex natural gas (NGX22 ) on Friday closed down by -0.108 (-1.57%). Nov nat-gas prices Friday erased an early rally and closed moderately lower. Increased U.S. nat-gas output is bearish for prices...

NGX22 : 6.640 (-1.86%)
Crude Oil Prices Under Pressure from Global Economic Concerns

Nov WTI crude oil (CLX22 ) this morning is down -0.91 (-1.12%), and Nov RBOB gasoline (RBX22 ) is -2.81 (-1.17%). Nov Nymex natural gas (NGX22 ) is up by +0.104 (+1.51%). Crude oil and gasoline prices...

CLX22 : 83.13 (+4.58%)
RBX22 : 2.4779 (+4.56%)
NGX22 : 6.640 (-1.86%)
Chevron's 5% Buyback Yield With Its 3.93% Dividend Yield Attracts Value Buyers

Chevron Corp told investors it would buy back $15 billion of its shares annually or 5% of its market value. Along with its 3.93% dividend yield, this is attracting value buyers to CVX stock.

CVX : 143.67 (-0.76%)
Danger's Lurking

Oil prices are still trying to bottom but are set for their first quarterly loss since 2020. The focus in the oil market is not about current supply and demand anymore but the potential risk to demand...

One Day Up, Next Day...

Yesterday the markets closed Down after a day of closing Higher. What will we see today?

Exxon Mobil Iron Condor Could Net 25% In 3 Weeks

XOM is sitting right between the 50 and 200-day moving averages. Traders that think the stock might stay at this level over the next few weeks could look at an iron condor.

XOM : 87.31 (-1.54%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 49.34
1st Resistance Point 48.55
Last Price 47.75s
1st Support Level 47.20
2nd Support Level 46.64
3rd Support Level N/A

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52-Week High 64.00
Fibonacci 61.8% 51.31
Last Price 47.75s
Fibonacci 50% 47.40
Fibonacci 38.2% 43.48
52-Week Low 30.79

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