June Crude Oil

I am watching the trade in June Crude Oil very closely today. This is the last day of trading for June WTI Crude Oil futures. Last month on the last day of trade for the May WTI Crude oil, futures price plunged to -$38 per barrel in a chaotic day of trade. I do not expect that in the June contract today. However, to be honest, I never thought crude oil would go to a negative number until it did. It will be very positive if the July Crude oil futures (which becomes the nearby contract today) can close over the April high on the continuation chart at $33.15 this Friday and confirm a major low in energy prices.

Get our daily in-depth analysis delivered directly to your inbox by 5:30 AM CST each morning, along with other services created specifically for farmers, when you become a Kluis Commodity Advisors client. Try our Kluis Commodity Advisors 30-day free trial to test it out.