WTI Nov Crude Futures Settle at $103.66 Before Tuesday Expiry

Commodities1 day ago

Prompt backwardation for WTI crude climbed by $1 a barrel today to exceed $4 per barrel, following a rise of more than $1.50 through Friday. NYMEX futures for November delivery ended the session at $103.66 per barrel, having reached $104 earlier in the day as traders squeezed into positions.

The market activity comes ahead of the November contract expiry on Tuesday. Analysts noted that price drops currently visible on continuous charts are a result of the contract rollover rather than an actual decline in crude value.

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Possible scenarios

35%Expiry Premium Fades-0.0%
30%Hormuz Disruption Widens-0.9%
22%Escorts Restore Flows+0.7%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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WTI Nov Crude Futures Settle at $103.66 Before Tuesday Expiry

In this story

New York Mercantile Exchange

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Mapped to your portfolio

Possible scenarios

35%Expiry Premium Fades-0.0%
30%Hormuz Disruption Widens-0.9%
22%Escorts Restore Flows+0.7%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.