Crude Oil WTI Jul '29 (CLN29)
Crude Oil WTI Futures Market News and Commentary
Sep WTI crude oil (CLU22) on Friday closed down -2.25 (-2.38%), and Sep RBOB gasoline (RBU22) closed down -2.55 (-0.83%).
Oil prices on Friday fell on a +0.5% rally in the dollar index and on Iran's statement that the EU's proposed nuclear deal is "acceptable if they can assure Iran on various issues including political claims related to safeguards, sanctions and guarantees."
Iran's positive statement about the proposed deal slightly boosted the chances for a final deal. Negotiators this past Monday ended 15 months of talks and presented Iran and the U.S. with a proposed draft agreement and called for the leaders of the two countries to make a decision on the proposal within a few weeks. An agreement would allow the return of Iranian oil supplies to the global oil market.
Oil prices on Friday saw some carry-over support from Thursday's news that the International Energy Agency (IEA) raised its forecast for growth in global crude oil demand this year by +380,000 b... Read more
- Weekly highlights: Heating Oil / Diesels
The fundamentals for kero and diesels weakened last week with stocks rising and demand falling. However, the outlook remain supportive with stocks 29mb...
- Weekly highlights: Gasoline
Gasoline fundamentals improved sharply last week with stocks falling by 5mb and extending below the level seen last year and the five year average. Demand...
- Weekly highlights: Crude
Crude fundamentals weakened with stocks rising sharply by 5mb to just 6.8mb below the level seen last year and total demand falling by 474,000 bpd. Demand...
- Crude oil Weekly Forecast
The downtrend may be expected to continue, while market is trading below resistance level 92.70, which will be followed by reaching support level 85.41...
- Natural gas Weekly Forecast
The uptrend may be expected to continue, while market is trading above support level 8,480, which will be followed by reaching resistance level 9,664
- Nat-Gas Fades a Bit But Still Closes the Week Sharply Higher
Sep Nymex natural gas (NGU22 ) on Friday closed -1.19% on some long liquidation pressure after the +17% rally seen on Tuesday through Thursday. However,...