Crude Oil WTI Dec '20 (CLZ20)
Crude Oil WTI Futures Market News and Commentary
August WTI crude oil (CLQ26) on Wednesday closed down -0.92 (-1.32%), and August RBOB gasoline (RBQ26) closed up +0.0503 (+1.74%).
Crude oil and gasoline prices settled mixed on Wednesday, with crude falling to a 4.25-month low and gasoline rising to a 1-week high. Crude prices were under pressure on Wednesday amid signs of progress in US-Iran peace talks, which have eased geopolitical risks. Also, dollar strength on Wednesday weighed on most commodity prices, including crude oil. Wednesday’s weekly EIA inventory report was mostly bullish as crude supplies fell to a 7.75-year low and gasoline stockpiles fell more than expected.
Crude prices tumbled on Wednesday after a senior US administration official said US negotiators held positive discussions in Qatar and progress is being made on technical talks with Iran. Also, the Wall Street Journal reported that President Trump had decided against resuming a broad military campaign against Iran and told his staff that he di... Read more
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