Oil prices rally, WTI crude weekly contracts active near $80
Oil prices are rising, with USO up 1.42%. WTI crude weekly contracts show activity around $80/bbl. The December maximum oil price market is at 35¢ for $115. Watch for catalyst from Fed and Middle East tensions.
Key takeaways
- 01
Oil prices are rising, with USO up 1.42%.
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WTI crude weekly contracts show activity around $80/bbl.
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The December maximum oil price market is at 35¢ for $115.
Full analysis
Oil markets are moving on the back of a 1.42% gain in USO (WTI crude oil ETF). The WTI crude oil settlement price markets are seeing increased activity, with the $79.00–$79.99 bucket (KXWTIW-26JUL2414-B79) trading at 8¢ with 6,373 volume. The $80.00–$80.99 bucket (B80) is at 6¢ with 9,129 volume. The December 2026 maximum WTI price contract (KXWTIMAX-26DEC31-T11) is at 35¢ for a $115.01 target, with 22,455 volume. The strategic petroleum reserve level market (KXSPRLVL-26JUL22-T31) shows a 4% chance of being above 315 million barrels. The natural gas market is down 2.28% (UNG), while copper is up 1.25% (CPER). Traders should monitor the Brent crude weekly close (KXBRENTW-26JUL2417-T) which is at 45¢ for above $86.99. The tight spreads on these contracts (1–2¢) make them efficient for trading. The oil price is supported by geopolitical tensions and supply concerns, but the market is also watching for demand signals from the Fed decision.
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