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Crude Oil WTI Mini Dec '24 (QMZ24)

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Crude Oil WTI Mini Futures Market News and Commentary

Progress Toward Reopening the Strait of Hormuz Weighs on Oil Prices

September WTI crude oil (CLU26) closed down -0.55 (-0.73%) on Wednesday, and September RBOB gasoline (RBU26) closed down -0.0134 (-0.47%).

Crude oil and gasoline prices added to this week's sharp losses on Wednesday, with crude falling to a 3-week low and gasoline dropping to a 4.75-month nearest-futures low.  Growing optimism that the US and Iran are nearing a deal to reopen the Strait of Hormuz is pushing crude oil prices lower.  Crude prices were also pressured on Wednesday after weekly EIA crude inventories unexpectedly increased. 

Crude prices fell on Wednesday after the AP reported that Iranian and Omani negotiators have finalized a draft deal to reopen the Strait of Hormuz and are awaiting final approval from Iran's supreme leader.  Separately, Axios reported that the US, Iran and Oman were nearing an interim 60-day accord to reopen the waterway that would involve no tolls or fees, with inbound vessels using a northern lane and outbound traffic a southern one.  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
$4,275/3,887
First Notice Date
11/19/24
Expiration Date
11/19/24 (expired)

Seasonal Chart

Crude Oil WTI Mini Dec '24
Average Price Chart for 5 Prior Dec 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
66.500 +4.35%
on 11/18/24
72.850 -4.75%
on 11/07/24
+0.700 (+1.02%)
since 10/18/24
3-Month
64.200 +8.08%
on 09/10/24
77.750 -10.75%
on 10/08/24
-3.090 (-4.26%)
since 08/19/24
52-Week
64.200 +8.08%
on 09/10/24
81.725 -15.09%
on 04/12/24
-4.190 (-5.69%)
since 11/17/23

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Most Recent Stories

More News
Progress Toward Reopening the Strait of Hormuz Weighs on Oil Prices

September WTI crude oil (CLU26 ) closed down -0.55 (-0.73%) on Wednesday, and September RBOB gasoline (RBU26 ) closed down -0.0134 (-0.47%). Crude oil and gasoline prices added to this week's sharp losses...

CLU26 : 75.22s (-0.73%)
RBU26 : 2.8388s (-0.47%)
Nat-Gas Prices Edge Higher on Warmer US Weather Forecasts

September Nymex natural gas (NGU26 ) closed up +0.006 (+0.22%) on Wednesday. Nat-gas prices settled slightly higher on Wednesday amid forecasts for warmer US weather, potentially boosting nat-gas demand...

NGU26 : 2.688s (+0.22%)
Crude Prices Pressured by Growing Optimism the Strait of Hormuz to Soon Reopen

September WTI crude oil (CLU26 ) is down -0.61 (-0.81%) today, and September RBOB gasoline (RBU26 ) is up +0.0130 (+0.46%). Crude oil and gasoline prices added to this week's sharp losses today, with crude...

CLU26 : 75.22s (-0.73%)
RBU26 : 2.8388s (-0.47%)
A NASA And Lockheed Martin Inventor Is Now Building Hydrogen Power Units In Florida

VIVIFY Technology, a private South Florida hydrogen company, has recruited a former Lockheed Martin Inventor of the Year, Buddy Paul, to build its 1MW "Flying Pig" power unit. It is "all powered by water,"...

LIN : 491.05 (+1.32%)
LMT : 577.60 (-1.99%)
BE : 234.33 (+2.73%)
APD : 295.09 (+0.13%)
BLDP : 2.64 (-3.65%)
PLUG : 2.10 (-2.78%)
CMI : 650.25 (+2.25%)
Oil Edges Up as Red Sea Shipping Threats Return

Crude is bouncing this morning after Houthi rebels made fresh threats against Saudi oil shipping in the Red Sea, undoing some of yesterday's progress on Saudi-Houthi talks brokered through Oman. India...

Williams Companies Stock: Is Wall Street Bullish or Bearish?

Williams Companies has underperformed the broader market over the past year, but analysts are highly optimistic about the stock’s prospects.

FTXN : 35.76 (-2.64%)
$SPX : 7,723.55 (-0.17%)
WMB : 71.81 (+0.42%)
What Are Wall Street Analysts' Target Price for MGM Resorts Stock?

MGM Resorts has outperformed the broader market over the past year, and analysts are moderately optimistic about the stock’s prospects.

MGM : 44.51 (-2.65%)
PEJ : 67.49 (+0.39%)
$SPX : 7,723.55 (-0.17%)
JPM : 359.24 (+0.48%)
Crude Oil: $70 Pricing Trends & Prairie Impact

A price forecast for Light Crude oil.

CLU26 : 75.22s (-0.73%)
What Are Wheat Producers Seeing That Traders Aren't?

Weather headlines and geopolitical tensions grab attention, but wheat keeps struggling to hold its rallies. Producers are selling into strength, seasonal trends favor weakness, and the technical picture...

WTZ26 : 663.5 (+0.94%)
WEAT : 24.06 (+0.84%)
ZWZ26 : 661-2s (+0.61%)
XWZ26 : 661-2s (+0.61%)
Optimism of Reopening Strait of Hormuz Knocks Crude Prices Lower

September WTI crude oil (CLU26 ) on Tuesday closed down -4.57 (-5.69%), and September RBOB gasoline (RBU26 ) closed down -0.1145 (-3.86%). Crude oil and gasoline prices sold off sharply on Tuesday for...

CLU26 : 75.22s (-0.73%)
RBU26 : 2.8388s (-0.47%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point 70.977
2nd Resistance Point 70.313
1st Resistance Point 69.852
Last Price 69.390s
1st Support Level 68.727
2nd Support Level 68.063
3rd Support Level 67.602

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52-Week High 81.725
Fibonacci 61.8% 75.030
Fibonacci 50% 72.962
Fibonacci 38.2% 70.895
Last Price 69.390s
52-Week Low 64.200

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