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Crude Oil WTI Feb '24 (CLG24)

75.19s +1.78 (+2.42%) 01/22/24 [NYMEX]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Mon, Jan 22nd, 2024
Day Low
72.85
Day High
75.79
Open 73.41
Previous Close 73.41 73.41
Volume 15,993 15,993
Open Interest 23,764 23,764
Stochastic %K 80.12% 80.12%
Weighted Alpha -0.78 -0.78
5-Day Change +2.51 (+3.45%) +2.51 (+3.45%)
52-Week Range 64.24 - 88.21 64.24 - 88.21
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Crude Oil WTI Futures Market News and Commentary

Crude Prices Fall on Fears of Global Oversupply

June WTI crude oil (CLM25) Wednesday closed down -1.40 (-2.20%), and June RBOB gasoline (RBM25) closed down -0.0165 (-0.79%).

Crude oil and gasoline prices on Wednesday fell back from 2-1/2 week highs and settled moderately lower.  Wednesday's stronger dollar is bearish for energy prices.  

Crude also came under pressure Wednesday after Kazakhstan's energy minister said it wouldn't cut its crude production levels and will prioritize national interests over those of OPEC+ when deciding on oil production levels, which risks angering Saudi Arabia.  Saudi Arabia could boost its crude production to reduce crude prices and punish those OPEC+ members that produce above their assigned limits, further flooding the global markets with crude.  

Losses in crude oil deepened Wednesday after Reuters reported that several OPEC+ members would suggest accelerating oil output hikes in June for a second consecutive month.   OPEC+ members will meet on May 5 to discuss the June output... 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
$6,618/6,017
First Notice Date
01/24/24
Expiration Date
01/22/24 (expired)

Seasonal Chart

Crude Oil WTI Feb '24
Average Price Chart for 5 Prior Feb Contracts

Commitment of Traders Positions as of Apr 15, 2025

View Chart Details
Commercials - Long / Short
766,976 (-43,235)
920,691 (-38,079)
Non-Commercials - Long / Short
311,402 (-5,886)
165,032 (-12,661)
Producers - Long / Short
636,108 (-40,805)
343,321 (-35,467)
Swap Dealers - Long / Short
34,738 (-2,416)
481,240 (-2,598)
Managed Money - Long / Short
179,562 (+23,895)
99,649 (-7,479)
Other Reportables - Long / Short
131,840 (-29,781)
65,383 (-5,182)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
69.28 +8.53%
on 01/03/24
Period Open: 73.56
76.18 -1.30%
on 12/26/23
+1.63 (+2.22%)
since 12/22/23
3-Month
67.98 +10.61%
on 12/13/23
Period Open: 85.57
85.76 -12.33%
on 10/23/23
-10.38 (-12.13%)
since 10/20/23
52-Week
64.24 +17.05%
on 03/20/23
Period Open: 77.82
88.21 -14.76%
on 09/28/23
-2.63 (-3.38%)
since 01/20/23

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Crude Prices Fall on Fears of Global Oversupply

June WTI crude oil (CLM25 ) Wednesday closed down -1.40 (-2.20%), and June RBOB gasoline (RBM25 ) closed down -0.0165 (-0.79%). Crude oil and gasoline prices on Wednesday fell back from 2-1/2 week highs...

CLM25 : 62.16 (-2.37%)
RBM25 : 2.0674 (-1.12%)
Forecasts for Cooler US Temps Boost Nat-Gas Prices

May Nymex natural gas (NGK25 ) on Wednesday closed up by +0.015 (+0.50%). May nat-gas prices posted moderate gains on Wednesday as forecasts for cooler US temperatures sparked some short-covering in nat-gas...

NGM25 : 3.138 (-0.10%)
Crude hits rare resistance—Kazakhstan rattles OPEC+ expectations.

WTI Crude Oil futures rallied yesterday after Scott Bessent’s positive comments regarding trade relations with China and President Trump’s more hawkish Iran comments.

Crude Prices Retreat as Some OPEC+ Members Seek to Boost Crude Oil Output

June WTI crude oil (CLM25 ) today is down -1.82 (-2.86%), and May RBOB gasoline (RBK25 ) is down -0.0265 (-1.27%). Crude oil and gasoline prices today fell back from 2-1/2 week highs and are sharply lower....

CLM25 : 62.16 (-2.37%)
RBM25 : 2.0674 (-1.12%)
Devon Energy's Q1 2025 Earnings: What to Expect

Devon Energy is expected to release its fiscal first-quarter earnings next month, and analysts project a single-digit earnings growth.

XLE : 81.35 (-0.05%)
$SPX : 5,357.83 (+1.33%)
DVN : 31.09 (-0.35%)
Crude Prices Climb as Market Sentiment Improves

May WTI crude oil (CLK25 ) Tuesday closed up +1.23 (+1.95%), and May RBOB gasoline (RBK25 ) closed up +0.0343 (+1.66%). Crude oil and gasoline prices on Tuesday settled moderately higher. Tuesday's stock...

CLM25 : 62.16 (-2.37%)
RBM25 : 2.0674 (-1.12%)
Nat-Gas Prices Pressured as Warm Spring Temps Boost US Inventories

May Nymex natural gas (NGK25 ) on Tuesday closed down by -0.009 (-0.30%). May nat-gas prices on Tuesday extended their 3-week sell-off to a 5-month nearest-futures low. Warmer-than-normal US spring temperatures...

NGM25 : 3.138 (-0.10%)
Crude Prices Supported as Asset Markets Recover

May WTI crude oil (CLK25 ) today is up +1.45 (+2.30%), and May RBOB gasoline (RBK25 ) is up +0.0397 (+1.92%). Crude oil and gasoline prices today are sharply higher. Today's stock rebound has improved...

CLM25 : 62.16 (-2.37%)
RBM25 : 2.0674 (-1.12%)
Elon Musk Isn’t ‘One of The Doomsday People’ On Climate Change or Humanity, But Says We Need ‘A Sense of Urgency’

Elon Musk, while rejecting climate doomsday narratives, emphasizes the need for continued urgency in transitioning to a sustainable energy economy, framing it as both an environmental necessity and a strategic...

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Alliant Energy's Q1 2025 Earnings: What to Expect

Alliant Energy is all set to release its fiscal first-quarter earnings next month, and analysts project a high single-digit profit decline.

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Crude Pulls Back After Big Week—Eyes on 63.81 for Momentum Rebound

We shifted our bias to Neutral / Bullish on Thursday morning alongside the news of these compensation cuts.

Crude Prices Fall as Risk-Off Sentiment Weighs on Commodities

May WTI crude oil (CLK25 ) Monday closed down -1.60 (-2.47%), and May RBOB gasoline (RBK25 ) closed down -0.0335 (-1.60%). Crude oil and gasoline prices on Monday settled moderately lower. Monday's plunge...

CLM25 : 62.18 (-2.34%)
RBM25 : 2.0673 (-1.12%)
DXY00 : 99.824 (+0.92%)
Nat-Gas Prices Plunge on Above-Normal US Temps

May Nymex natural gas (NGK25 ) on Monday closed down by -0.229 (-7.06%). May nat-gas prices plunged to a 2-3/4 month low on Monday and settled sharply lower. Forecasts for warmer US temperatures that...

NGM25 : 3.139 (-0.06%)
Is Chevron Stock Too Cheap With Its 5.1% Yield After Its Recent Dividend Hike?

Chevron pays an annualized dividend per share of $6.84, so at today's price, CVX stock sports a 5.1 %+ annual dividend yield. Is that too cheap, especially since its average over the last 5 years is well...

CVX : 136.70 (-0.44%)
Risk-Off Sentiment in Asset Markets Weighs on Crude Prices

May WTI crude oil (CLK25 ) today is down -1.67 (-2.58%), and May RBOB gasoline (RBK25 ) is down -0.0408 (-1.94%). Crude oil and gasoline prices today are moderately lower. Today's stock sell-off has sparked...

CLM25 : 62.18 (-2.34%)
RBM25 : 2.0673 (-1.12%)
DXY00 : 99.824 (+0.92%)
What to Expect From Expand Energy's Q1 2025 Earnings Report

Expand Energy will release its first-quarter earnings next week, and analysts anticipate a robust triple-digit bottom-line growth.

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CenterPoint Energy Earnings Preview: What to Expect

CenterPoint Energy will release its first-quarter earnings this week, and analysts anticipate bottom-line to remain unchanged year over year.

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What to Expect From EOG Resources' Next Quarterly Earnings Report

EOG Resources is set to announce its Q1 results in the upcoming month, and analysts expect a slight decrease in earnings.

XLE : 81.35 (-0.05%)
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Parker-Hannifin's Quarterly Earnings Preview: What You Need to Know

Parker-Hannifin is gearing up to announce its Q3 results in the next month, and analysts expect a single-digit growth in earnings.

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(DOWNLOAD A FREE REPORT): How the weak dollar, Trade Tariffs and weather are affecting natural gas, metals and more

Jim’s video

NGK25 : 2.995 (-0.40%)
NFK25 : 83.610s (-0.45%)
TGK25 : 34.160s (-0.25%)
UNG : 15.71 (-0.44%)
KOLD : 30.09 (-0.27%)
BOIL : 48.81 (+0.23%)
Crude Prices Finish Sharply Higher on US Trade Deal Hopes and Iranian Oil Export Risks

May WTI crude oil (CLK25 ) Thursday closed up +2.21 (+3.54%), and May RBOB gasoline (RBK25 ) closed up +0.0554 (+2.71%). Crude oil and gasoline prices rallied sharply on Thursdays to 1-1/2 week highs....

CLM25 : 62.18 (-2.34%)
RBM25 : 2.0673 (-1.12%)
Warm US Spring Temps Weigh on Nat-Gas Prices

May Nymex natural gas (NGK25 ) on Thursday closed down by -0.002 (-0.06%). May nat-gas prices on Thursday fell to a 2-1/2 month low and settled slightly lower. On Thursday, nat-gas prices were under pressure...

NGM25 : 3.139 (-0.06%)
Crude Prices Push Higher on US Trade Deal Hopes and Risk to Iranian Oil Exports

May WTI crude oil (CLK25 ) today is up +1.64 (+2.63%), and May RBOB gasoline (RBK25 ) is up +0.0433 (+2.12%). Crude oil and gasoline prices today climbed to 1-1/2 week highs and are sharply higher. Optimism...

CLM25 : 62.18 (-2.34%)
RBM25 : 2.0673 (-1.12%)
Crude Oil Gains a Dollar Off China-U.S. Optimism, U.S. EIA Data

Oil Rebounds CLM = 61.83s +1.08 (+1.78%) QAM = 65.85s +1.18 (+1.82%)

CLM25 : 62.18 (-2.34%)
QAM25 : 66.01 (-2.12%)
Crude Prices Gain as China Signals it is Open to US Trade Talks

May WTI crude oil (CLK25 ) Wednesday closed up +1.17 (+1.86%), and May RBOB gasoline (RBK25 ) closed up +0.0190 (+0.94%). Crude oil and gasoline prices on Wednesday rallied moderately. Wednesday's slide...

CLM25 : 62.18 (-2.34%)
RBM25 : 2.0673 (-1.12%)
DXY00 : 99.824 (+0.92%)
Nat-Gas Prices Tumble as Warm US Temps Should Rebuild Inventories

May Nymex natural gas (NGK25 ) on Wednesday closed down by -0.082 (-2.46%). May nat-gas prices on Wednesday tumbled to a 2-1/2 month low and settled moderately lower. The outlook for warm spring US temperatures...

NGM25 : 3.139 (-0.06%)
Crude Prices Climb on Possible De-Escalation of US-China Trade Tensions

May WTI crude oil (CLK25 ) today is up +1.27 (+2.07%), and May RBOB gasoline (RBK25 ) is up +0.0139 (+0.69%). Crude oil and gasoline prices today are moderately higher. Today's slide in the dollar is...

CLM25 : 62.18 (-2.34%)
RBM25 : 2.0673 (-1.12%)
Iran Deal Threatens Supply Shock—Will Bulls Defend the Range?

WTI Crude Oil Futures (May) Yesterday’s Settlement: 61.33, down -0.20 [-0.33%] WTI Crude Oil futures finished the day lower, driven by Dollar strength, fundamental selling, and reportedly positive progress...

Energy Demand Concerns Undercut Crude Prices

May WTI crude oil (CLK25 ) Tuesday closed down -0.20 (-0.33%), and May RBOB gasoline (RBK25 ) closed up +0.0022 (+0.11%). Crude oil and gasoline prices on Tuesday settled mixed. Tuesday's stronger dollar...

CLM25 : 62.18 (-2.34%)
RBM25 : 2.0673 (-1.12%)
Nat-Gas Prices Recover as US Weather Forecasts Cool

May Nymex natural gas (NGK25 ) on Tuesday closed up by +0.004 (+0.12%). May nat-gas prices on Tuesday recovered from a 2-1/4 month low and settled slightly higher. Short covering emerged in nat-gas futures...

NGM25 : 3.139 (-0.06%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 79.31
2nd Resistance Point 77.55
1st Resistance Point 76.37
Last Price 75.19s
1st Support Level 73.43
2nd Support Level 71.67
3rd Support Level 70.49

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52-Week High 88.21
Fibonacci 61.8% 79.05
Fibonacci 50% 76.22
Last Price 75.19s
Fibonacci 38.2% 73.40
52-Week Low 64.24

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