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Crude Oil WTI Jul '16 (CLN16)

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Crude Oil WTI Futures Market News and Commentary

WTI Crude Plunges to an 18-3/4 Year Low on Demand Concerns and Supply Surge

May WTI crude oil (CLK20) on Monday closed down -1.42 (-6.60%), May Brent crude oil (CBK20) closed down -2.17 (-8.96%), and May RBOB gasoline (RBK20) closed up +0.0032 (+0.52%).

Crude oil prices on Monday settled sharply lower with WTI crude posting an 18-3/4 year low and Brent crude falling to an 18-year low. Crude oil prices were undercut by a stronger dollar, demand concerns, and the onslaught of supply from Saudi Arabia.

The coronavirus continues to spread at a pace that is forcing massive shutdowns of economic activity across the globe, which has decimated energy demand and helped cause the plunge in energy prices. Confirmed cases of the virus have risen globally to more than 769,000 with deaths exceeding 36,000.

On Sunday, President Trump said he would not try to restart U.S. activity by Easter weekend and instead said that Americans will need to practice "social distancing" until at least April 30. The extended lockdown will further curtail economic activ... 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
$6,490/5,600
First Notice Date
06/23/16
Expiration Date
06/21/16 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Mar 24, 2020

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Commercials - Long / Short
804,091 (-18,980)
1,270,984 (-8,685)
Non-Commercials - Long / Short
578,366 (+5,547)
142,353 (+9,771)
Producers - Long / Short
489,761 (-34,366)
451,886 (-41,022)
Swap Dealers - Long / Short
123,658 (+4,708)
628,426 (+21,659)
Managed Money - Long / Short
243,563 (+10,403)
78,503 (+3,510)
Other Reportables - Long / Short
334,803 (-4,856)
63,850 (+6,261)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
45.83 +6.59%
on 06/17/16
51.67 -5.46%
on 06/09/16
+0.44 (+0.91%)
since 05/20/16
3-Month
37.50 +30.27%
on 04/05/16
51.67 -5.46%
on 06/09/16
+5.81 (+13.50%)
since 03/21/16
52-Week
31.61 +54.54%
on 01/20/16
63.61 -23.20%
on 06/23/15
-13.66 (-21.85%)
since 06/19/15

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Most Recent Stories

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Market News Report: March 30, 2020 - April 3 2020

Last weeks Thursdays Unemployment Claims number release has been a real eye-opener for the financial markets. The scheduled economic data releases may show coronavirus crisis impact on the economy. So,...

WTI Crude Plunges to an 18-3/4 Year Low on Demand Concerns and Supply Surge

May WTI crude oil (CLK20) on Monday closed down -1.42 (-6.60%), May Brent crude oil (CBK20) closed down -2.17 (-8.96%), and May RBOB gasoline (RBK20) closed up +0.0032 (+0.52%). Crude oil prices on Monday...

Natural Gas Closes Higher as a Plunge in Crude Oil May Reduce Nat-Gas Production

May Nymex natural gas (NGK20) on Monday closed up +0.019 (+1.14%). Nat-gas prices on Monday shook off early losses and settled higher after crude oil prices plunged to a new 18-year low. The ongoing weakness...

Natural Gas is Slightly Lower due to Ongoing Demand Concerns

May Nymex natural gas (NGK20) this morning is down -0.001 (-0.06%). Nat-gas prices this morning are slightly lower. Demand concerns are weighing on nat-gas prices today after President Trump on Sunday...

Brent Crude Slumps to 18-Year Low on Demand Concerns and Increasing Supplies

May WTI crude oil (CLK20) this morning is down -1.22 (-5.67%), May Brent crude oil (CBK20) is down -2.60 (-10.43%), and May RBOB gasoline (RBK20) is down -0.0283 (-4.61%). The energy complex this morning...

Crude Oil Breaks $20 A Barrel

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Our WHOLE report - Blue Line Morning Express

A Newsletter with actionable ideas, ES, NQ, Crude, Gold and more

Social Distance. The Energy Report 03/30/2020

Oil prices are losing hope that demand will recover anytime soon after President Trump extended federal social distancing guidelines until April 30th. The report drove [...]

Finally....

Finally the stimulus bill was passed on Friday but there wasn't enough time for the markets to react to it. Will this change today? Read on to learn more...

Natural Gas Closes Slightly Lower due to Ongoing Demand Concerns

Apr Nymex natural gas (NGJ20) on Friday closed down -0.003 (-0.18%). Nat-gas prices on Friday settled slightly lower on continued concern about reduced nat-gas demand caused by the coronavirus pandemic...

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 8% Buy with a Weakening short term outlook on maintaining the current direction.

Long term indicators fully support a continuation of the trend.

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Key Turning Points

2nd Resistance Point 49.94
1st Resistance Point 49.39
Last Price 48.85s
1st Support Level 48.23
2nd Support Level 47.62

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52-Week High 63.61
Fibonacci 61.8% 51.39
Last Price 48.85s
Fibonacci 50% 47.61
Fibonacci 38.2% 43.83
52-Week Low 31.61

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InsideFutures Commentary

InsideFutures is a twice weekly newsletter that features a selection of the latest and best commodities commentary appearing on Barchart.com. Delivered every Wednesday and Friday morning to your inbox.

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