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Crude Oil WTI May '23 (CLK23)

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Crude Oil WTI Futures Market News and Commentary

Crude Prices Close Lower on Energy Demand Woes and Increased Russian Crude Exports

Oct WTI crude oil (CLV24) Tuesday closed down -1.89 (-2.44%), and Oct RBOB gasoline (RBV24) closed down -3.73 (-1.75%).

Crude oil and gasoline prices settled moderately lower on Tuesday.  Crude prices came under pressure Tuesday after Goldman Sachs cut its 2025 Brent crude forecast to $77 a barrel from a prior estimate of $82 per barrel.  Tuesday's slump in the crude crack spread to a 3-1/2 year low is another bearish factor for crude prices.  In addition, an increase in Russian crude exports is negative for crude prices.

Weakness in the crude crack spread is bearish for oil prices as the crack spread Tuesday fell to a 3-1/2 year low, discouraging refiners from purchasing crude oil and refining it into gasoline and distillates.

An increase in Russian crude exports has boosted global supplies and is bearish for oil prices.  Weekly vessel-tracking data from Bloomberg showed Russian crude exports rose by +390,000 bpd to 3.35 million bpd in the week to August 25, the h... Read more

Contract Specifications

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Contract
Crude Oil West Texas Intermediate
Contract Size
1,000 U.S. barrels (42,000 gallons)
Tick Size
1 cent per barrel ($10.00 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (RTH 8:00a.m. - 1:30p.m.) (Settles 1:30p.m.) CST
Exchange
NYMEX
Point Value
$1,000
Margin/Maintenance
$6,593/5,944
First Notice Date
04/24/23
Expiration Date
04/20/23 (expired)

Seasonal Chart

Crude Oil WTI May '23
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Aug 20, 2024

View Chart Details
Commercials - Long / Short
664,359 (-20,149)
918,432 (-25,662)
Non-Commercials - Long / Short
294,896 (-3,302)
72,608 (+5,953)
Producers - Long / Short
517,920 (-26,955)
401,840 (-20,848)
Swap Dealers - Long / Short
48,407 (+5,091)
418,560 (-6,529)
Managed Money - Long / Short
204,954 (-11,570)
35,041 (+10,282)
Other Reportables - Long / Short
89,942 (+8,268)
37,567 (-4,329)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
66.82 +15.67%
on 03/24/23
83.53 -7.47%
on 04/12/23
+9.47 (+13.96%)
since 03/20/23
3-Month
64.36 +20.09%
on 03/20/23
83.53 -7.47%
on 04/12/23
-4.71 (-5.74%)
since 01/20/23
52-Week
64.36 +20.09%
on 03/20/23
101.66 -23.97%
on 06/08/22
-11.40 (-12.85%)
since 04/20/22

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Crude Prices Close Lower on Energy Demand Woes and Increased Russian Crude Exports

Oct WTI crude oil (CLV24 ) Tuesday closed down -1.89 (-2.44%), and Oct RBOB gasoline (RBV24 ) closed down -3.73 (-1.75%). Crude oil and gasoline prices settled moderately lower on Tuesday. Crude prices...

CLV24 : 74.65 (-1.17%)
RBV24 : 2.0695 (-1.34%)
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Sep Nymex natural gas (NGU24 ) on Tuesday closed down by -0.052 (-2.66%). Sep nat-gas prices Tuesday closed lower for the sixth consecutive session and posted a 4-month nearest-futures low. Over the past...

NGV24 : 2.066 (-0.91%)
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Crude Prices Fall on Energy Demand Concerns and Increased Russian Crude Exports

Oct WTI crude oil (CLV24 ) today is down -1.28 (-1.65%), and Oct RBOB gasoline (RBV24 ) is down -3.63 (-1.70%). Crude oil and gasoline prices today are moderately lower. Crude prices came under pressure...

CLV24 : 74.65 (-1.17%)
RBV24 : 2.0695 (-1.34%)
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Crude Oil futures incurred record options volume on yesterday rip, we help break it all down and build a game plan.

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CLV24 : 74.65 (-1.17%)
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Nat-Gas Prices Pressured by Robust Supplies and Forecasts for Cooler Temps

Sep Nymex natural gas (NGU24 ) on Monday closed down by -0.066 (-3.26%). Sep nat-gas prices Monday moved lower for the fifth consecutive session and posted a 2-1/2 week low. Over the past week, nat-gas...

NGV24 : 2.066 (-0.91%)
Crude Prices Rally on Middle East Supply Concerns

Oct WTI crude oil (CLV24 ) Monday closed up +2.59 (+3.46%), and Oct RBOB gasoline (RBV24 ) closed up +1.63 (+0.77%). Crude oil and gasoline prices Monday rallied sharply to 1-week highs. Oil prices moved...

CLV24 : 74.65 (-1.17%)
RBV24 : 2.0695 (-1.34%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 80.38
2nd Resistance Point 79.64
1st Resistance Point 78.46
Last Price 77.29s
1st Support Level 76.54
2nd Support Level 75.80
3rd Support Level 74.62

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52-Week High 101.66
Fibonacci 61.8% 87.41
Fibonacci 50% 83.01
Fibonacci 38.2% 78.61
Last Price 77.29s
52-Week Low 64.36

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