What price is crude oil trading at today


Oil was not the only market to take the hit on Friday. This week, the market awaits several reports from energy market watchdogs and participants. On Tuesday, we get the U. Market participants will be combing through these reports to find evidence that the global oil supply rebalancing story remains intact. The market will pay attention to adjustments or revisions to U. In last month's report, the EIA projected that U.

This level is higher than the previous record of 9. The EIA also forecasts that crude oil production will average Changes to these estimates could have an impact on the market's supply expectations. Next up will be OPEC's monthly oil market report. This is a long report with forecasts and commentary about oil prices, the global economy, and world oil demand and supply, as well as commentary about the oil product and tanker markets. Traders will likely focus on OPEC's demand expectations because these tend to drive the cartel's supply response.

EFPs may be used to either initiate or liquidate a futures position. The following domestic crude streams are deliverable: The following foreign streams are deliverable: A buyer or seller may appoint an inspector to inspect the quality of oil delivered. However, the buyer or seller who requests the inspection will bear its costs and will notify the other party of the transaction that the inspection will occur.

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