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Crude Oil WTI Mini May '23 (QMK23)
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Crude Oil WTI Mini Futures Market News and Commentary

Crude Prices Tumble on Global Demand Concerns

July WTI crude oil (CLN23) on Tuesday closed down -3.21 (-4.42%), and July RBOB gasoline (RBN23) closed down -11.21 (-4.33%).  

Crude oil and gasoline prices Tuesday sold off sharply, with crude falling to a 2-week low and gasoline dropping to a 1-week low.  Crude oil prices fell on concern about global demand for crude oil.  Crude oil prices are also being undercut by expectations that OPEC+ will maintain current crude production levels when it meets later this week.

Signs of weakness in the physical market are undercutting crude prices after the June-July cash roll of WTI crude, which reflects crude supply balances at Cushing, the delivery point of WTI futures, dropped -29 cents per barrel, indicating lower demand for crude barrels being delivered in June than in July.

The lackluster recovery in China from its Covid Zero policy signals weaker-than-expected energy demand and is a bearish factor for crude prices.

A bearish factor for crude was Russian Deputy... Read more

Contract Specifications

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Contract
E-Mini Crude Oil WTI
Contract Size
500 U.S. barrels (21,000 gallons)
Tick Size
2.5 cents per barrel ($12.50 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (Settles 1:30p.m.) CST
Exchange
NYMEX
Point Value
$500
Margin/Maintenance
$3,190/2,900
First Notice Date
04/19/23
Expiration Date
04/19/23 (expired)

Seasonal Chart

Crude Oil WTI Mini May '23
Average Price Chart for 5 Prior May Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
64.350 +23.01%
on 03/20/23
83.525 -5.23%
on 04/12/23
+12.230 (+18.27%)
since 03/17/23
3-Month
64.350 +23.01%
on 03/20/23
83.525 -5.23%
on 04/12/23
-1.830 (-2.26%)
since 01/19/23
52-Week
64.350 +23.01%
on 03/20/23
101.230 -21.80%
on 06/09/22
-8.960 (-10.17%)
since 04/19/22

More Crude Oil WTI Mini Quotes

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Most Recent Stories

More News
Crude Prices Tumble on Global Demand Concerns

July WTI crude oil (CLN23 ) on Tuesday closed down -3.21 (-4.42%), and July RBOB gasoline (RBN23 ) closed down -11.21 (-4.33%). Crude oil and gasoline prices Tuesday sold off sharply, with crude falling...

CLN23 : 69.28 (-0.26%)
RBN23 : 2.4750 (-0.17%)
Nat-Gas Prices Fall as Mild U.S. Temperatures Expected

July Nymex natural gas (NGN23 ) on Tuesday closed down -0.090 (-3.72%). July nat-gas prices Tuesday retreated on the outlook for mild weather to curb nat-gas demand from electricity providers to power...

NGN23 : 2.303 (-1.03%)
Crude Prices Tumble on Global Demand Concerns

July WTI crude oil (CLN23 ) this morning is down -2.92 (-4.02%), and July RBOB gasoline (RBN23 ) is down -10.93 (-4.22%). July Nymex natural gas (NGN23 ) is down -0.124 (-5.13%). Crude oil and gasoline...

CLN23 : 69.28 (-0.26%)
RBN23 : 2.4750 (-0.17%)
NGN23 : 2.303 (-1.03%)
Why is Crude Tanking Ahead of China PMIs? | Morning Express | 5/30/2023 |

Crude Oil futures are on their back-foot and retesting a critical area of rare major four-star support at the onset of U.S. hours.

Mixed Debt Deal Bag

The excitement over the debt ceiling deal in principle is wearing off for the oil trade as there are some doubts that it will get the votes it needs. Yet the larger issues weighing on the oil market seems...

Deadline Extended

Secretary Yellen found a way to extend the debt ceiling deadline to June 5th. What will we see today? Read on to learn more...

This week I am planning to open a long Gas Oil and a long White Sugar calendar spread.

Gas Oil has been creeping higher the past few weeks after having dropped over (50%) since October of 2022. Is the bottom in? Time will tell… I like my chances with this trade given the historical seasonality....

Which climatic variables signify an El Niño?

Jim's report on recent market changes to ponder over the Memorial Day weekend .... (as you prep for next week)

ZCZ23 : 518-0 (-1.38%)
ZSX23 : 1140-4 (-1.11%)
ZWN23 : 584-2 (-1.14%)
KEN23 : 774-4 (-1.18%)
LEZ23 : 174.850s (+0.94%)
CTZ23 : 79.57 (-0.80%)
SBN23 : 25.33s (-0.16%)
KCN23 : 177.10s (-2.48%)
NGN23 : 2.303 (-1.03%)
Crude Closes Higher as Risk Assets Climb on Progress in Debt Ceiling Negotiations

July WTI crude oil (CLN23 ) on Friday closed up +0.84 (+1.17%), and July RBOB gasoline (RBN23 ) closed up +3.87 (+1.52%). Crude oil and gasoline prices Friday posted moderate gains. Signs that U.S....

CLN23 : 69.28 (-0.26%)
RBN23 : 2.4750 (-0.17%)
Nat-Gas Prices Under Pressure from Mild U.S. Temperatures

June Nymex natural gas (NGM23 ) on Thursday closed down -0.126 (-5.46%). Jun nat-gas Friday dropped to a 2-week low and closed sharply lower. Forecasts for seasonal U.S. temperatures that will reduce...

NGN23 : 2.303 (-1.03%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Strong Signal Strength.

Key Turning Points

3rd Resistance Point 83.315
2nd Resistance Point 82.220
1st Resistance Point 80.690
Last Price 79.160s
1st Support Level 78.065
2nd Support Level 76.970
3rd Support Level 75.440

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52-Week High 101.230
Fibonacci 61.8% 87.142
Fibonacci 50% 82.790
Last Price 79.160s
Fibonacci 38.2% 78.438
52-Week Low 64.350

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