Crude Oil Brent F Jun '18 (QAM18)
Crude Oil Brent (F) Futures Market News and Commentary
June WTI crude oil (CLM26) on Thursday closed down -1.81 (-1.69%), and June RBOB gasoline (RBM26) closed up +0.0228 (+0.63%). Â Crude oil and gasoline prices settled mixed on Thursday, with gasoline soaring to a 3.75-year high. Â Crude oil gave up an early advance and fell sharply on Thursday amid concerns that higher energy prices are starting to curb demand and global economic growth. Â
Signs that high oil prices are beginning to curb energy demand and global economic growth sparked long liquidation in crude oil on Thursday. Â US Q1 GDP rose +2.0% (q/q annualized), weaker than expectations of +2.3%. Â Also, Eurozone Q1 GDP rose +0.1% q/q and +0.8% y/y, weaker than expectations of +0.2% m/m and +0.9% y/y.
WTI crude oil prices initially rallied to a 3-week high on Thursday after Axios reported that President Trump will be briefed on new military options for action in Iran, signaling the potential for fresh escalation in the war. Â US Central Command has prepared a plan for a... Read more
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