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Crude Oil WTI Oct '24 (CLV24)

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Crude Oil WTI Futures Market News and Commentary

Crude Rallies on Dollar Weakness and Dovish Powell Comments

Oct WTI crude oil (CLV24) Friday closed up +1.82 (+2.49%), and Oct RBOB gasoline (RBV24) closed up +3.93 (+1.89%).

Crude oil and gasoline prices settled sharply higher on Friday after the dollar index tumbled to a 13-month low.  Crude oil prices also rallied Friday on comments from Fed Chair Powell that the time has come to cut interest rates, which sparked a risk-on mood in asset markets.  In addition, Friday's stock rally showed confidence in the economic outlook, a supportive factor for energy demand.

Friday's US economic news was better than expected and supportive of crude after July new home sales rose +10.6% m/m to a 14-month high of 739,000, stronger than expectations of 623,000.

Concern about energy demand in China, the world's second-largest crude consumer, is bearish for oil prices.  China's steel production in July fell -9% y/y to 82.94 MMT, the lowest this year, which signals weak industrial and building demand and weakness in China's economy.

Si... 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
09/24/24 (31 days)
Expiration Date
09/20/24 (27 days)

Seasonal Chart

Crude Oil WTI Oct '24
Average Price Chart for 5 Prior Oct 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
70.88 +5.57%
on 08/05/24
78.54 -4.72%
on 08/12/24
-1.09 (-1.44%)
since 07/23/24
3-Month
70.88 +5.57%
on 08/05/24
82.62 -9.43%
on 07/05/24
-0.67 (-0.89%)
since 05/23/24
52-Week
68.92 +8.58%
on 12/13/23
83.45 -10.33%
on 04/12/24
-0.11 (-0.15%)
since 08/23/23

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Most Recent Stories

More News
Crude Rallies on Dollar Weakness and Dovish Powell Comments

Oct WTI crude oil (CLV24 ) Friday closed up +1.82 (+2.49%), and Oct RBOB gasoline (RBV24 ) closed up +3.93 (+1.89%). Crude oil and gasoline prices settled sharply higher on Friday after the dollar index...

CLV24 : 74.83s (+2.49%)
RBV24 : 2.1186s (+1.89%)
Nat-Gas Prices Fall on Ample US Supplies

Sep Nymex natural gas (NGU24 ) on Friday closed down by -0.031 (-1.51%). Sep nat-gas prices on Friday extended this week's slide to a 2-1/2 week low. Nat-gas prices were weighed down Friday by negative...

NGV24 : 2.180s (-0.64%)
Iron Mountain Stock: Analyst Estimates & Ratings

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

IRM : 113.35 (+0.51%)
$SPX : 5,634.61 (+1.15%)
SRVR : 30.42 (+2.19%)
BCS : 12.22 (+2.69%)
Scoop Up This Russell 2000 Stock for 22% Upside Potential

This small-cap stock is down about 7% from its 52-week high, and the new Street-high target suggests it could rally up to 22% higher from here.

AEIS : 110.70 (+2.90%)
$IQY : 1,412.16 (+3.00%)
Weak Dollar and Powell Comments Push Crude Prices Higher

Oct WTI crude oil (CLV24 ) today is up +1.54 (+2.11%), and Oct RBOB gasoline (RBV24 ) is up +3.28 (+1.57%). Crude oil and gasoline prices today are trading higher on a slump in the dollar index to a 7-1/2...

CLV24 : 74.83s (+2.49%)
RBV24 : 2.1186s (+1.89%)
Where Bulls Take the Reins?

We called a high probability of Crude Oil bottoming on Thursday. Can the bounce hold? We give you a roadmap for managing Friday and where the bulls take the reins.

Targa Resources Stock Outlook: Is Wall Street Bullish or Bearish?

Targa Resources outperformed the broader market over the past year, and analysts remain bullish on the stock’s prospects.

TRGP : 144.13 (+0.90%)
$SPX : 5,634.61 (+1.15%)
$SPX : 5,634.61 (+1.15%)
UMI : 44.43 (+1.21%)
Heating Oil and Gasoline are at their lowest hedge fund position estimate for the past 52 weeks. Gold it at its highest.

All 3 markets are at extreme low levels (HO and RB) or high levels (GC) since tracking began in April 2021

3 High-Yield S&P 500 Stocks to Buy and Hold

Three high-yield S&P 500 stocks, Devon Energy, Verizon Communications, and Pfizer Inc., are poised to provide a balanced mix of income and growth, making them attractive options for long-term investors....

$SPX : 5,634.61 (+1.15%)
DVN : 44.70 (+2.36%)
VZ : 41.21 (+0.83%)
PFE : 28.90 (+0.42%)
CLV24 : 74.83s (+2.49%)
NGU24 : 2.022s (-1.51%)
DVN : 44.70 (+2.36%)
PFE : 28.90 (+0.42%)
Nat-Gas Prices Sink as Weekly EIA Inventories Climb More Than Expected

Sep Nymex natural gas (NGU24 ) on Thursday closed down by -0.124 (-5.70%). Sep nat-gas prices Thursday plunged to a 2-week low after weekly EIA inventories rose +35 bcf, well above expectations of a +25...

NGV24 : 2.180s (-0.64%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 77.90
2nd Resistance Point 76.48
1st Resistance Point 75.66
Last Price 74.83s
1st Support Level 73.42
2nd Support Level 72.00
3rd Support Level 71.18

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52-Week High 83.45
Fibonacci 61.8% 77.90
Fibonacci 50% 76.18
Last Price 74.83s
Fibonacci 38.2% 74.47
52-Week Low 68.92

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