CL=F - Crude Oil Aug 20
| Pre. Settlement | N/A |
| Settlement date | 2020-07-21 |
| Open | 40.38 |
| Bid | 40.32 |
| Last price | 40.65 |
| Day's range | 40.27 - 40.44 |
| Volume | 1,270 |
| Ask | 40.33 |
- Yahoo Finance
Stock market news live updates: Stocks jump after June jobs data smash expectations
Stock rose on Thursday, as investors cheered the resiliency of a U.S. economy that created nearly 5 million jobs last month in the throes of the raging coronavirus pandemic.
- Bloomberg
Oil Set for Weekly Gain as Economic Green Shoots Outweigh Virus
(Bloomberg) -- Oil is on track to resume its weekly uptrend, boosted by signs that the world’s biggest economy is recovering from coronavirus-related lockdowns, even as fears linger over a resurgence.Futures in New York eased 0.8% in early Asian trade, handing back some of Thursday’s 2.1% gain, but are still up almost 5% over the week. Prices had strengthened after a Labor Department report showed that payrolls rose by 4.8 million in June and the previous month was revised higher. That built on gains on Wednesday from a bigger-than-expected drop in U.S. crude stockpiles as well as plunging output from OPEC producers.Crude later retreated along with equity markets as fresh outbreaks of the virus continued to hurt sentiment. U.S. cases jumped the most in almost eight weeks and Florida’s new coronavirus infections rose by a record. Texas ordered residents to wear masks as the state reported its second-most daily infections of the outbreak.Oil has also been buoyed by evidence that efforts to scale back production are working. A survey on Wednesday showed OPEC output fell to the least since 1991 in June, while Russia reached near total compliance with its OPEC+ quota.OPEC+ hasn’t made any decision yet on whether to extend its full production cutback -- which stands at 9.6 million barrels a day -- into August, or ease it as initially planned to 7.7 million at the end of this month, Russian Energy Minister Alexander Novak said. The coalition will meet on July 15 to decide.Explorers extended the slump in U.S. oil rigs for a 16th straight week as the industry looks to lower costs by completing wells that have already been drilled. The number of active rigs fell by three to 185, the least since 2009, according to Baker Hughes Co. data released on Thursday. Meanwhile, Exxon Mobil Corp. reported an unprecedented second straight quarterly loss as almost every facet of the oil giant’s business slumped.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Oil Closes at Highest Since Early March on Robust Jobs Report
(Bloomberg) -- Oil closed at its highest level in almost four months before the U.S. holiday weekend, cheered by signs the world’s biggest economy is recovering from coronavirus-related lockdowns, even as fears linger over a resurgence.Prices strengthened after a Labor Department report showed that payrolls rose by 4.8 million in June and the previous month was revised higher. That built on gains on Wednesday from a bigger-than-expected drop in U.S. crude stockpiles as well as plunging output from OPEC producers. But further upside may be limited as fresh outbreaks of the virus are reported across the nation, prompting some states to pause or even reverse re-opening measures.“The higher than expected increase in non-farm payrolls is supportive on the heels of yesterday’s larger than expected crude draw,” said Michael Hiley, head of over-the-counter energy trading at New York-based LPS Futures. “The surges in new Covid-19 cases may dampen expectations of things opening.”While oil has recovered from an unprecedented market crash and is back at levels last seen in early March, the rebound in fuel consumption has been patchy at best. The scale of the challenge was highlighted in a report that U.S. gasoline demand over the Fourth of July weekend -- normally the peak of the summer driving season -- will be at least 20% lower than a year ago.“Gasoline has carried the load on recovery and demand, and it’s not clear whether that could continue into August and September,” said Andrew Lebow, senior partner at Commodity Research Group.Oil has also been buoyed by evidence that efforts to scale back production are working. A survey on Wednesday showed OPEC output fell to the least since 1991 in June, while Russia reached near total compliance with its OPEC+ quota.OPEC+ hasn’t made any decision yet on whether to extend its full production cutback -- which stands at 9.6 million barrels a day -- into August, or ease it as initially planned to 7.7 million at the end of this month, Russian Energy Minister Alexander Novak said. The coalition will meet on July 15 to decide.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- FX Empire
Silver Price Forecast – Silver Markets Looking Lively Again
Silver market has been noisy on Thursday as we awaited the jobs figure, but it looks as if the $18 level is going to continue to offer potential support.
- FX Empire
Crude Oil Price Forecast – Crude Oil Markets Continue With Same Song and Dance
Crude oil markets have been extraordinarily quiet over the last several days, and Thursday was going to be no different. We are currently stuck in a major range.
- FX Empire
Oil Price Fundamental Daily Forecast – Prices Retreat from Highs Ahead of Long Holiday Weekend
Helping to underpin crude oil prices this week were a pair of bullish reports from the (API) and the (EIA).
- FX Empire
Natural Gas Price Forecast – Natural Gas Markets Stagnant
Natural gas markets gapped higher to kick off the trading session on Thursday, and then went back and forth to show a lot of volatility.
- FX Empire
Gold Price Forecast – Gold Markets Finding Support After Initially Dipping
Gold markets have fallen a bit during the early hours on Thursday but has turned right back around to show signs of support near the $1765 level.
- FX Empire
Oil Continues Its Attempts To Settle Above $40
Oil tries to get more upside momentum above the key resistance level.
- FX Empire
GBP/USD Price Forecast – British Pound Runs Out of Steam
The British pound rallied significantly on Thursday but ran out of steam as the jobs number came out much better than anticipated in the United States.
- FX Empire
GBP/JPY Price Forecast – British Pound Continues to Grind Against Japanese Yen
The British pound rallied slightly during the trading session on Thursday against the Japanese yen as traders continue to grind this market a bit higher.
- FX Empire
EUR/USD Price Forecast – Euro Gives Up Early Gains
The Euro rallied on Thursday, waiting for the jobs number to come out. It looked rather strong but gave up the gains after the better than anticipated number.
- FX Empire
AUD/USD Price Forecast – Australian Dollar Continues to Grind in Consolidation
The Australian dollar rallied a bit during the trading session after the jobs number came out in the United States better than anticipated.
Investing.comOil Jumps as U.S. Job Numbers Gloss Over Virus Menace
Upbeat U.S. jobs numbers helped oil prices jump over 5% on the week, gaining more than they lost the previous week. It was the second time in a month that oil bulls pulled off such a feat, despite the resurgence in U.S. coronavirus cases and threats of fresh curbs on the economy. New York-traded West Texas Intermediate, the benchmark for U.S. crude futures, settled up 83 cents, or 2.1%, at $40.65 per barrel after the U.S. Labor Department said the economy added 4.8 million jobs in June versus a forecast growth of 3 million jobs.
- Zacks
Agnico Eagle Up 44% in 3 Months: What's Driving the Rally?
Bright prospects of key growth projects and higher gold prices are driving Agnico Eagle's (AEM) shares.
- Zacks
Oil Market at a Crossroads: Will It Break Out or Break Down?
While retreating from last week's all time highs, current domestic stocks, at 533.5 million barrels, is still 13.9% above the year-ago figure and 15% over the five-year average.
- FX Empire
U.S. Stocks Set To Open Higher As Non Farm Payrolls Report Easily Beats Expectations
S&P; 500 futures are gaining more than 1% in premarket trading as the economy added 4.8 million jobs in June.
- FX Empire
Crude Oil Price Update – August WTI Futures Need to Hold $39.36 to Sustain Rally
The direction of the August WTI crude oil market on Thursday is likely to be determined by trader reaction to the 50% level at $39.36.
- FX Empire
Gold During Covid-19 Pandemic and Beyond
Over the first half of the year, gold gained more than 16 percent, rising from $1,515 at the end of December 2019 to $1,762 at the end of June 2020.
- FX Empire
E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Big Test for Buyers at 25938 to 26298
The direction of the September E-mini Dow Jones Industrial Average on Thursday is likely to be determined by trader reaction to 25938.
- FX Empire
AUD/USD Forex Technical Analysis – Trader Reaction to .6933 Pivot Sets the Tone on Thursday
The direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the pivot at .6933.
- FX Empire
Gold Bulls Risk Delayed Gratification in Q3
Even at this early stage, some are starting to speculate whether global demand reached a peak in 2019.
