Us August WTI futures closed 2.8% higher than September WTI futures closed 2.4% higher

Published: Jul 22, 2020 07:01

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SMM News: 22 am, the United States WTI crude oil futures prices closed higher on Tuesday, and the highest closing price since March. The European Union has reached a rescue package for the coronavirus, easing concerns about the outlook for energy demand.

In addition, analysts expect Wednesday's EIA (EIA) report to show that U.S. crude oil inventories fell for the second consecutive week in the week ended July 17. Analysts surveyed by S & P Global Platts expect corporate bonds to fall by an average of 1.9 million barrels.

(WTI), West Texas Intermediate for August delivery on the New York Mercantile Exchange, rose $1.15, or 2.8%, to close at $41.96 a barrel. August WTI expires after closing today.

The new spot futures, September WTI crude oil futures, rose $1, or 2.4%, to close at $41.92 a barrel.

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