WTI crude oil futures posted their largest intraday gain on June 1, climbing 3.12% to settle at $90.92 a barrel. The session saw prices rally from an open of $88.50 to a high of $91.26 before closing near the top of the range.
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WTI crude jumps 3.1% to $90.92 in session's biggest rally
WTI crude oil futures posted their largest intraday gain on June 1, climbing 3.12% to settle at $90.92 a barrel. The session saw prices rally from an open of $88.50 to a high of $91.26 before closing near the top of the range.
The move marked a sharp reversal from the session low of $88.45, with crude gaining $2.42 a barrel from trough to peak. Volume reached 40,116 contracts as buyers stepped in throughout the session.
The rally pushed WTI back above the $90 threshold, a level that has served as both support and resistance in recent trading. The close at $90.92 leaves the benchmark within striking distance of the session high at $91.26.
For traders, the question now is whether the momentum can carry into the next session. A sustained move above $91.26 would target the next resistance zone, while a failure to hold $90 could see prices retest the $88.50 open level.
This article is for informational purposes only and does not constitute investment advice.
