Any guesses on the crude open tonight?  I'll say +$4-5.

Obviously higher from Trump bombing Iran.

                Re: Re: Re: Re: Re: Israel strikes Iran                        

                By metmike - June 21, 2025, 8:31 p.m.            

We spiked to +4.5 or so in the opening minute, then sold off to around +$2.4 and are now closer to the lows.

This graph doesn't show the highs correctly which were 78.4.

https://tradingeconomics.com/commodity/crude-oil

Crude is $3 off the highs and up only ~$1.70. 

This graph is NOT accurate as the open was $2 higher than what it shows but its free and shows the point.........we opened on the high on Sunday Evening and kept falling. Now being lower for the session. So this was a downside reversal for ALL the energies. This is pretty bearish and suggests a buying exhaustion from the Iran news with us now in the buy the rumor, sell the fact mode.

However, we might be able to hold risk premium here with tensions still very high in the Middle East.

https://tradingeconomics.com/commodity/crude-oil

1. 1 day-HUUUGE reversal down-high after the open was 78.40 NOT 76 as shown. So we dropped $5 from the open. Clinging to support!

2. 1 month-top from bullish Iran news peaking over the weekend-again, we opened above 78 and the spike high was actually 78.40 just after that. 

Crude -$4 now as Iran makes impotent attacks on US military bases.

Downside break out on 1 month chart. 

Down $9 from the  $78+ open last night.

+++++++++++++

1:20pm CDT update: Clear downside breakout as we approach the close.

More buy the rumor SELL THE FACT action.

4pm update: August crude closed at 67.23 down over $11 from the opening range last evening!