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Crude Oil WTI Feb '28 (CLG28)

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Crude Oil WTI Futures Market News and Commentary

Crude Rallies on Stronger-Than-Expected US Economic Reports

May WTI crude oil (CLK24) on Thursday closed up +1.82 (+2.24%), and May RBOB gasoline (RBK24) closed up +4.87 (+1.82%).

Crude and gasoline prices Thursday settled moderately higher, with crude posting a 1-week high.  Thursday's stronger-than-expected US economic reports signaled strength in the economy that was bullish for energy demand and crude prices.  On the negative side for crude prices was Thursday's rally in the dollar index to a 6-week high.

Thursday's US economic news was better-than-expected on balance, a supportive factor for energy demand.  Q4 GDP was revised upward to +3.4% (q/q annualized), stronger than expectations of an unrevised 3.2%.  Also, weekly initial unemployment claims unexpectedly fell -2,000 to 210,000, showing a stronger labor market than expectations of an increase to 212,000.  In addition, the March University of Michigan US consumer sentiment index was revised upward to a 2-1/2 year high of 79.4, stronger than expectations of an unrevised... 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
$7,260/6,600
First Notice Date
01/24/28 (1397 days)
Expiration Date
01/20/28 (1393 days)

Seasonal Chart

Crude Oil WTI Feb '28
Average Price Chart for 5 Prior Feb Contracts

Commitment of Traders Positions as of Mar 19, 2024

View Chart Details
Commercials - Long / Short
568,958 (-31,778)
877,361 (+11,571)
Non-Commercials - Long / Short
366,016 (+36,698)
88,259 (-7,271)
Producers - Long / Short
436,432 (-23,119)
360,950 (-18,341)
Swap Dealers - Long / Short
41,407 (-2,802)
425,292 (+35,769)
Managed Money - Long / Short
236,945 (+37,418)
31,261 (-7,673)
Other Reportables - Long / Short
129,071 (-720)
56,998 (+402)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
64.33 +2.60%
on 03/08/24
66.00 unch
on 03/28/24
+1.43 (+2.21%)
since 02/28/24
3-Month
62.39 +5.79%
on 12/29/23
66.00 unch
on 03/28/24
+3.38 (+5.40%)
since 12/28/23
52-Week
57.81 +14.17%
on 06/12/23
67.51 -2.24%
on 10/18/23
+5.29 (+8.71%)
since 03/28/23

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Most Recent Stories

More News
Crude Rallies on Stronger-Than-Expected US Economic Reports

May WTI crude oil (CLK24 ) on Thursday closed up +1.82 (+2.24%), and May RBOB gasoline (RBK24 ) closed up +4.87 (+1.82%). Crude and gasoline prices Thursday settled moderately higher, with crude posting...

CLK24 : 83.05 (+2.09%)
RBK24 : 2.7194 (+1.78%)
Nat-Gas Prices Rebound as Weekly EIA Inventories Fall More Than Expected

May Nymex natural gas (NGK24 ) on Thursday closed up by +0.070 (-3.91%). May nat gas prices on Thursday recovered from a contract low and rallied moderately after weekly EIA nat-gas inventories fell more...

NGK24 : 1.751 (+1.92%)
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Crude Rallies on Strength in the US Economy

May WTI crude oil (CLK24 ) this morning is up +1.23 (+1.51%), and May RBOB gasoline (RBK24 ) is up +2.94 (+1.10%). Crude and gasoline prices this morning are moderately higher, with crude climbing to a...

CLK24 : 83.05 (+2.09%)
RBK24 : 2.7194 (+1.78%)
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Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Average Signal Strength.

Key Turning Points

3rd Resistance Point 65.72
2nd Resistance Point 65.72
1st Resistance Point 65.72
Last Price 66.00
1st Support Level 65.72
2nd Support Level 65.72
3rd Support Level 65.72

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52-Week High 67.51
Last Price 66.00
Fibonacci 61.8% 63.80
Fibonacci 50% 62.66
Fibonacci 38.2% 61.52
52-Week Low 57.81

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