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Crude Oil WTI Jul '23 (CLN23)
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Crude Oil WTI Futures Market News and Commentary

Crude Oil Prices Continue Lower on Economic Gloom

August WTI crude oil (CLQ23) Friday closed down -0.35 (-0.50%), and Aug RBOB gasoline (RBQ23) closed down -3.49 (-1.41%).

Crude oil and gasoline prices Friday extended Thursday's sell-off on economic gloom driven by the weak U.S. and Eurozone purchasing manager reports.  The preliminary-June S&P U.S. PMI fell by -2.1 points to a 6-month low of 46.3, weaker than expectations for a +0.1 point increase to 48.5.  Meanwhile, the preliminary-June S&P Eurozone composite PMI fell by -2.5 points to a 5-month low of 50.3, much weaker than market expectations of 52.5.

Oil market traders were already gloomy about energy demand after Fed Chair Powell's hawkish testimony earlier this week and after the Bank of England's +50 bp rate hike.  Crude oil prices were also undercut by Friday's +0.50% rally in the dollar index.

In a bearish factor, Vortexa reported Monday that the amount of crude stored on tankers that have been stationary for at least a week rose +5% w/w to 107.12 milli... 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
$6,380/5,800
First Notice Date
06/22/23
Expiration Date
06/20/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jun 20, 2023

View Chart Details
Commercials - Long / Short
718,413 (-23,345)
908,331 (-17,699)
Non-Commercials - Long / Short
341,074 (-12,486)
174,597 (-23,889)
Producers - Long / Short
551,570 (-1,694)
506,032 (-10,959)
Swap Dealers - Long / Short
70,862 (-6,042)
306,318 (+8,869)
Managed Money - Long / Short
210,478 (+1,409)
118,736 (-19,289)
Other Reportables - Long / Short
130,596 (-13,895)
55,861 (-4,600)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
66.80 +5.54%
on 06/12/23
75.06 -6.08%
on 06/05/23
-1.19 (-1.66%)
since 05/19/23
3-Month
63.89 +10.35%
on 05/04/23
82.91 -14.97%
on 04/12/23
+2.49 (+3.66%)
since 03/20/23
52-Week
63.89 +10.35%
on 05/04/23
93.15 -24.32%
on 06/21/22
-20.72 (-22.71%)
since 06/17/22

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Most Recent Stories

More News
Nat-Gas Prices Rally to New 1-month High

July Nymex natural gas (NGN23 ) on Friday rallied sharply to a new 1-month high and closed the day up +0.121 (+4.64%). Hot weather continues to be the main bullish factor for nat-gas prices, with the scorching...

NGQ23 : 2.843s (+5.14%)
Crude Oil Prices Continue to Fall on Economic Gloom

August WTI crude oil (CLQ23 ) today is down -1.05 (-1.51%), and Aug RBOB gasoline (RBQ23 ) is down -0.533 (-2.16%). Crude oil and gasoline prices today have extended Thursday's sell-off on economic gloom...

CLQ23 : 69.16s (-0.50%)
RBQ23 : 2.4366s (-1.41%)
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PSX : 90.86 (+0.06%)
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CRM : 210.09 (-1.50%)
Nat-Gas Prices Shake Off Bearish EIA Report

July Nymex natural gas (NGN23 ) on Thursday closed up +0.011 (+0.42%) but remained below Tuesday's 1-month high. Hot weather continues to be a bullish factor for nat-gas prices, with the scorching weather...

NGQ23 : 2.843s (+5.14%)
Crude Oil Prices Fall Sharply on Hawkish Central Banks

August WTI crude oil (CLQ23 ) Thursday closed down -3.02 (-4.16%), and Aug RBOB gasoline (RBQ23 ) closed down -6.66 (-2.62%). Crude oil and gasoline prices on Thursday fell sharply on concern about the...

CLQ23 : 69.16s (-0.50%)
RBQ23 : 2.4366s (-1.41%)
Crude Oil Prices Fall Sharply on Hawkish Central Banks

August WTI crude oil (CLQ23 ) today is down -2.59 (-3.57%), and Aug RBOB gasoline (RBQ23 ) is down -0.0684 (-2.69%). July natural gas (NGQ23 ) is down -0.032 (-1.23%). Crude oil and gasoline prices are...

CLQ23 : 69.16s (-0.50%)
RBQ23 : 2.4366s (-1.41%)
NGQ23 : 2.843s (+5.14%)
Fedspeak Doesn't Help

Yesterday Fed Chair Powell didn't give any encouragement to the markets. What will today bring? Read on to learn more

Why the U.S. Continues to Pay Russia $1 Billion Annually

Despite the war in the Ukraine, U.S. companies continue to buy Russian Uranium.

An Undervalued Energy Stock To Scoop Up Now

There's a lot to consider when seeking out undervalued stocks, and it doesn't just come down to share price.

DISH : 6.02 (-5.20%)
PSX : 90.86 (+0.06%)
CHK : 80.59 (-0.60%)
NGN23 : 2.729s (+4.64%)
Nat-Gas Prices Rally on Continued Scorching Temps in Texas

July Nymex natural gas (NGN23 ) on Wednesday closed up +0.105 (+4.21%) and moved back up towards Tuesday's 1-month high. July nat-gas Wednesday rallied on the continued scorching weather in Texas. Maxar...

NGQ23 : 2.843s (+5.14%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 74.28
2nd Resistance Point 73.19
1st Resistance Point 71.84
Last Price 70.50s
1st Support Level 69.40
2nd Support Level 68.31
3rd Support Level 66.96

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52-Week High 93.15
Fibonacci 61.8% 81.97
Fibonacci 50% 78.52
Fibonacci 38.2% 75.07
Last Price 70.50s
52-Week Low 63.89

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