Oil prices were higher today, climbing about 2% to almost three month highs. Both contracts had their highest close since mid April and are in technically overbought territory. Bob Yawger, director of energy futures at Mizuho Bank, said a move above the 200-day moving average “generally stops out the speculative shorts and attracts traders looking for new entry points.” Both crude benchmarks have already climbed for four weeks in a row with supplies expected to tighten due to cuts from OPEC+.  WTI traded up $1.67 or 2.1% to close at $78.74. Brent traded up $1.67 or 2.1% to close at $82.74.

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  • Where: Renaissance Schaumburg Convention Center Hotel
  • Attending: Curtis Chandler (239.405.3365), David Cohen (954-729-4774), Cyndi Popov (403-402-5043)
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