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Crude Oil WTI Jan '25 (CLF25)

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Crude Oil WTI Futures Market News and Commentary

Crude Prices Jump as OPEC+ Delays Production Increases

December WTI crude oil (CLZ24) Monday closed up +1.98 (+2.85%), and December RBOB gasoline (RBZ24) closed up +0.0528 (+2.68%).

Crude oil and gasoline prices rallied to 1-week highs on Monday and settled moderately higher.  Monday's fall in the dollar index (DXY00) to a 2-week low was bullish for energy prices.  Crude also rose after OPEC+ agreed to push back its December production increase by one month.  In addition, ramped-up Middle East tensions are supporting crude after the Wall Street Journal reported that Iran is planning a counterattack on Israel involving more powerful warheads.

Crude rallied Monday after OPEC+ said on Sunday that it would delay its 180,000 bpd crude production increase by a month, the second straight month it postponed the anticipated supply increase.  Friday's news showed that OPEC's Oct crude production rose +370,000 bpd to 26.9 million bpd.

Bellicose comments from Iran boosted crude prices Monday after Iranian supreme leader Ayatollah... 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
$6,570/5,973
First Notice Date
12/23/24 (49 days)
Expiration Date
12/19/24 (45 days)

Seasonal Chart

Crude Oil WTI Jan '25
Average Price Chart for 5 Prior Jan Contracts

Commitment of Traders Positions as of Oct 29, 2024

View Chart Details
Commercials - Long / Short
739,720 (+53,603)
915,407 (+33,121)
Non-Commercials - Long / Short
284,996 (+8,276)
133,119 (+30,130)
Producers - Long / Short
585,060 (+43,858)
383,502 (+36,654)
Swap Dealers - Long / Short
44,207 (+2,721)
421,452 (-10,557)
Managed Money - Long / Short
168,343 (+6,440)
76,710 (+16,753)
Other Reportables - Long / Short
116,653 (+1,836)
56,409 (+13,377)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
66.32 +7.33%
on 10/29/24
77.04 -7.61%
on 10/08/24
-1.92 (-2.63%)
since 10/04/24
3-Month
63.88 +11.43%
on 09/10/24
77.04 -7.61%
on 10/08/24
+0.21 (+0.30%)
since 08/02/24
52-Week
63.88 +11.43%
on 09/10/24
80.87 -11.98%
on 04/12/24
-4.15 (-5.51%)
since 11/03/23

More Crude Oil WTI Quotes

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Most Recent Stories

More News
OPEC+ Delays, Eve Of U.S. Election - WTI Crude Oil 11/4/24

The December WTI (CLZ24 ) trading session settled at 71.47 (+1.98) [+2.85%] , had a high of 71.81, a low of 70.25. Cash price is at 69.52 (+0.23), while open interest for CLZ24 is at 339,370. CLZ settled...

CLZ24 : 71.47s (+2.85%)
Crude Prices Jump as OPEC+ Delays Production Increases

December WTI crude oil (CLZ24 ) Monday closed up +1.98 (+2.85%), and December RBOB gasoline (RBZ24) closed up +0.0528 (+2.68%). Crude oil and gasoline prices rallied to 1-week highs on Monday and settled...

CLZ24 : 71.47s (+2.85%)
RBZ24 : 2.0192s (+2.68%)
DXY00 : 103.884 (-0.38%)
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NGZ24 : 2.781s (+4.43%)
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Which Way Are Crude Oil Prices Going for the Remainder of 2024?

Crude oil prices have ground lower in a highly volatile way since peaking in April 2024. Contributing to this volatility are the upcoming election, the Israel/Iran conflict, and Opec + flip-flopping from...

USO : 74.29 (+3.15%)
CLF25 : 71.03s (+2.82%)
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CYZ24 : 71.47s (+2.85%)
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Crude Rallies on Dollar Weakness and as OPEC+ Delays Output Hikes

December WTI crude oil (CLZ24 ) today is up +1.57 (+2.26%), and December RBOB gasoline (RBZ24 ) is up +0.0483 (+2.46%). Crude oil and gasoline prices today are moderately higher and climbed to 1-week highs....

CLZ24 : 71.47s (+2.85%)
RBZ24 : 2.0192s (+2.68%)
DXY00 : 103.884 (-0.38%)
WTI Crude Rebounds on OPEC+ Delay and Geopolitical Tensions: Key Levels to Watch

Over the weekend, OPEC+ issued a press release officially confirming delays to output hikes. Geopolitical tensions were also ratcheted higher this weekend after Iranian leadership stated their retaliation...

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Cotton calendar spread and a Gasoline butterfly spread

Cotton broke through the downward wedge in mid-August but has moved sideways ever since.  Cotton has built a nice base to move up into seasonal strength.

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 72.44
2nd Resistance Point 71.69
1st Resistance Point 70.39
Last Price 71.03s
1st Support Level 68.34
2nd Support Level 67.59
3rd Support Level 66.29

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52-Week High 80.87
Fibonacci 61.8% 74.38
Fibonacci 50% 72.38
Last Price 71.03s
Fibonacci 38.2% 70.37
52-Week Low 63.88

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