Why WTI Crude Oil Futures moves
WTI Crude Oil Futures was flat without company news.
Written after the close on ·
Why today
16,413 news analyzed todayWTI Crude Oil Futures was flat without company news.
WTI Crude Oil Futures was roughly unchanged in the last session, while the S&P 500 rose slightly, so it moved a little less than the market.
This was an ordinary-sized day for WTI Crude Oil Futures.
Over the last five trading days it fell sharply, and the S&P 500 also fell sharply, so the drop was a big one, about three times a normal five-day stretch.
Oil prices have been pressured by hopes that U.S. election results could lead to a Middle East peace deal, which would ease supply worries, and by reports of falling Iran-related tensions.
Today's move of −0.20% was 0.1 times a normal day's 2.0%. S&P 500 moved +0.31% on the same day.
WTI Crude Oil Futures −0.20%S&P 500 +0.31%A little weaker than the market
What followed similar falls?
Including reinvested dividends, WTI Crude Oil Futures fell 12.8% over the latest five trading days. Since November 7, 2016, falls at least this large were followed by a higher value 21 trading days later in 7 out of 12 non-overlapping periods. The median was +1.6%, against +1.1% for an ordinary 21-day period, which ended higher 55 times in 100.
Such a fall has not said much about the next month.
+1.6% · 7/12
$10,000 in WTI Crude Oil Futures bought on April 21, 2020 is worth $90,700 today, with dividends reinvested.
The same amount in S&P 500 with dividends would have become $29,500.
What would $10,000 in WTI Crude Oil Futures be worth today? →
What would $10,000 in WTI Crude Oil Futures be worth today?
$90,700
with dividends reinvested, bought on April 21, 2020. The same amount in S&P 500 with dividends would have become $29,500.
The five biggest days of the journey
· +37.7% · the whole market rose 2.3% the same day
· +25.1% · the whole market fell 0.9% the same day
· −24.6% · the whole market rose 1.5% the same day
· +22.0% · the whole market rose 2.7% the same day
· +20.5% · the whole market rose 0.9% the same day
Earlier days
−13.23% market −2.70% WTI Crude Oil Futures, the US oil benchmark traded on NYMEX, fell sharply over the week, moving much more than the S&P 500 did. Read →
WTI Crude Oil Futures, the US oil benchmark traded on NYMEX, fell sharply over the week, moving much more than the S&P 500 did.
The drop was big, roughly three times a normal five-day move, and rare in the past year.
The main driver was hope for a peace deal with Iran after the US election, which eased fears of supply disruption.
Traders also reacted to signs of de-escalation in the Gulf war and to a sell-off after the US midterm results.
+2.72% market −4.41% WTI Crude Oil Futures rose, moving against a sharply lower S&P 500. Read →
WTI Crude Oil Futures rose, moving against a sharply lower S&P 500.
WTI Crude Oil Futures fell sharply over the last five trading days, a big move for this contract.
The rebound came as buyers defended key technical support, and the trading volume was about twice normal.
Traders have been reacting to signs of Middle East de-escalation and US-Iran peace hopes, which pushed oil down earlier in the week.
The latest close is well below the year's high set in early April, but well above the mid December low.
−7.36% market −0.48% WTI Crude Oil Futures, traded on NYMEX, fell on US-Iran talks hopes. Read →
WTI Crude Oil Futures, traded on NYMEX, fell on US-Iran talks hopes.
Over the same day the S&P 500 fell only slightly, so oil moved much more than the broader market.
The drop was a very big move, roughly four times a normal daily swing, and such moves have happened about 11 times in the past year.
Oil is driven by geopolitical risk, and hopes for a diplomatic deal with Iran reduce the premium traders had built in over supply fears near the Strait of Hormuz.
Over the last five trading days oil fell clearly, and the price remains below its early April high.
−0.31% market −0.56% WTI Crude Oil Futures, a benchmark US crude oil contract traded on NYMEX, was roughly flat over the week. Read →
WTI Crude Oil Futures, a benchmark US crude oil contract traded on NYMEX, was roughly flat over the week.
It moved less than the broader stock market, which slipped slightly.
Oil prices swung between about $100 and $102 as Iran peace hopes and renewed attack fears alternated.
Late in the week, supply worries from Middle East attacks pushed prices up in the final session.
+0.07% market −0.38% WTI Crude Oil Futures was roughly unchanged. Read →
WTI Crude Oil Futures was roughly unchanged.
Over the same session the S&P 500 fell slightly, so WTI Crude Oil Futures held up better than the broader market.
The move was an ordinary one for this contract, and trading volume was well below its usual level.
Oil prices have been driven mainly by supply worries tied to the Middle East conflict, including attacks on Saudi refineries that pushed prices above $100 the day before.
Over the last five trading days, WTI Crude Oil Futures rose slightly, moving more than the S&P 500 did over the same stretch.
+2.88% market +0.34% WTI Crude Oil Futures rose, outpacing the market. Read →
WTI Crude Oil Futures rose, outpacing the market.
WTI Crude Oil Futures rose clearly in the last session, while the S&P 500 rose only slightly.
The likely driver was renewed supply fears after a Houthi attack on a Saudi refinery, which pushed the price back above $100.
Over the last five trading days, WTI Crude Oil Futures rose clearly, while the S&P 500 was roughly flat.
Trading volume was around its usual level, and the price remains well below its highest close of the past year.