WTI, Crude Oil
Crude oil prices today: WTI prices are up 10.38% YTD
WTI oil has an American Petroleum Institute gravity of 39.6 degrees, considered “light.” WTI also has a sulfur content of just 0.24%, making it very “sweet.” WTI crude oil is typically the benchmark for U.S. oil prices in the trading world.
Closing prices for crude oil, gold and other commodities
Benchmark U.S. crude oil for June delivery fell $2.93 to $79 per barrel Wednesday. Brent crude for July delivery fell $2.89 to $83.44 per barrel. Wholesale gasoline for June delivery fell 11 cents to $2.58 a gallon. June heating oil fell 8 cents to $2.45 a gallon. June natural gas fell 6 cents to $1.93 per 1,000 cubic feet.
Crude Oil Price Forecast – Crude Oil Continues to Look For Buyers
The West Texas Intermediate Crude Oil Market fell to test the $80 level during the early hours on Wednesday, which does make a certain amount of sense as we had been falling toward that support level anyway. Furthermore, we also have to keep in mind that the FOMC meeting on Wednesday will have a major influence on what happens next.
WTI back over $83 as Crude Oil sees additional volatility
Crude Oil markets remain exposed to downside moves as recent geopolitical tensions ease after Iran announced it would not seek further retaliation against Israel. WTI’s recent climb sparked by ongoing fears of a Middle East conflict spilling over into an all-out war faltered near $87.
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