US crude stocks fell 9.1M barrels, exceeding forecasts. New all-time high for crude oil by September 30 at 17.5% YES.
Market Snapshot
The market for “WTI Crude Oil (WTI) closes above $89 on June 9” is priced at 99.9% YES, up from 96% 24 hours ago. The market for “Will Crude Oil reach a new all-time high by September 30?” is priced at 17.5% YES, up from 16%.
Key Takeaways
The significant draw in US crude stocks appears to suggest tightening supply conditions, affecting WTI pricing.
Markets are interpreting the draw as consistent with a heightened likelihood of WTI prices closing above $89 on June 9.
Oil prices rise amid US-Iran tensions. New all-time high by September 30 at 21.5% YES.
Oil prices steady as US-Iran talks progress. New all-time high for crude oil by September 30 at 25% YES.
Oil prices drop as hopes for a US-Iran deal rise. Crude oil reaching a new all-time high by May 31 at 1.5% YES.
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