Crude Oil Jul 24 (CL=F)
| Pre. Settlement | N/A |
| Settlement date | 2024-06-20 |
| Open | 81.52 |
| Bid | 81.69 |
| Last price | 81.57 |
| Day's range | 81.13 - 81.96 |
| Volume | |
| Ask | 81.71 |
- Yahoo Finance Video
Oil prices could be in the $60s next year: Strategist
Oil (BZ=F, CL=F) prices are in the spotlight as they continue to rise, despite growing demand uncertainty. Citi's Global Energy Strategist Eric Lee joins Catalysts to provide his perspicacious outlook. As the latter half of the year approaches, Lee foresees "markets getting a lot weightier" due to the intricate supply and demand dynamics. However, he cites geopolitical factors and weather patterns are what's "keeping the market nervous." Nonetheless, two factors could potentially alleviate this nervousness: slowing US gasoline demand and the fact that "profitability is problematic" within refineries. Turning his attention to the trajectory of future oil prices, Lee told Yahoo Finance: "We essentially think fundamentals, supply and demand, and global inventories will be building a lot next year." He added a cautionary note, stating, "I think when the markets see that, that is bearish for the price, and it [oil] can decouple from other sectors." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith.
- Yahoo Finance Video
Oil prices holding above $80 on demand uncertainty
Crude oil futures (CL=F, BZ=F) are holding above $80 per barrel on Tuesday ahead of summer energy demands. Yahoo Finance Senior Business Reporter Ines Ferré details the factors that are pushing oil prices higher in this session. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Oil holds gains, bitcoin hits one-month low: Commodity Check
Yahoo Finance Senior Markets Reporter Jared Blikre breaks down the performance of top-trading commodities, from cryptocurrencies to crude oil. Bitcoin (BTC-USD) has hit a one-month low while Solana (SOL-USD) continues to fall. Meanwhile, in energy markets, WTI crude oil futures (CL=F) are holding around $80 per barrel. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl
