WTI crude oil futures settle at $66.27

$0.90 or 1.38%

the price of WTI crude oil futures settle at $66.27. That’s up $0.90 or 1.38%. The high reached $66.43. The low extended to $64.83.

Technically, the price high today  stalled ahead of its high from last week at $66.60. The high price from May reached $66.73 on May 5. Both are targets that if broken, would open the door for further upside momentum.

An interesting development in the futures market is that the Chicago Mercantile exchange will start to trade a micro WTI crude futures on July 12 pending review. The contract will be 1/10 the size of the regular futures contract (100 barrels vs 1000 barrels). The settlement will be in cash meaning buyers and sellers need not worry about being delivered, or having to deliver. 

Technical Analysis

Articles You May Like

NZDUSD reaches target resistance and backs off to 200 bar MA on 4-hour chart
Samsung shares hit over 3-year high after better-than-expected guidance on strong AI demand
We are upgrading our rating on Wells Fargo as investors dump stock post-earnings
The 2-10 year yield rises to -27.3 basis points. A close here will be highest since Jan 29
Dow Jones Industrial Average sheds 30 points on thin Monday after early pop fizzles

Leave a Reply

Your email address will not be published. Required fields are marked *