The price of WTI
WTI
WTI is the short-hand for West Texas Intermediate crude oil. WTI
is a type of petroleum crude oil that serves as a benchmark in oil
pricing. It is a light, sweet crude oil that is extracted from West Texas area in the United States, including the Permian Basin. WTI crude oil is considered to be a
high-quality oil due to its low sulfur content and high yields of
gasoline and diesel fuel when refined. It is used as a benchmark for
pricing other types of crude oil, and the price of WTI crude o
WTI is the short-hand for West Texas Intermediate crude oil. WTI
is a type of petroleum crude oil that serves as a benchmark in oil
pricing. It is a light, sweet crude oil that is extracted from West Texas area in the United States, including the Permian Basin. WTI crude oil is considered to be a
high-quality oil due to its low sulfur content and high yields of
gasoline and diesel fuel when refined. It is used as a benchmark for
pricing other types of crude oil, and the price of WTI crude o
Read this Term crude oil futures
Futures
Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as
Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as
Read this Term are settling at $81.60. That’s down to cents or -0.02% on the day.
The high price reached $80.64. The low price extended to $81.05. At the high, the price was up $1.00. At the low the price fell -$0.59. Gains were erased by the close.
Looking at the hourly chart, the high price from last Wednesday reached a high of $82.66. That was just $0.02 higher than the high price reached today.
On the downside, the next major target comes in at the $80.85 sent level. That is home to the rising 100 hour moving average (blue line in the chart above). Move below that level and stay below that level would increase the bearish bias in the short term, with the 200 hour moving average at $79.55 the next major target needed to get to and through if the sellers are to assume more control technically.
