The Mar contract gave back 10 points today, settling at 63.87. The settlement was within the lower one quarter of the trading range. The May contract also lost 10 points settling at 64.62, the net effect leaving the Mar – May spread unchanged at (75). Volume slowed for Mar delivery at approximately 8.6K contracts while Mar OI expanded at approximately 124K contracts.
For tomorrow…
The Mar contract gained 31 points today, settling at 63.97. The settlement was within the upper one half of the trading range. The May contract gained 37 points settling at 64.72, the net effect leaving the Mar – May spread weakened at (75). Volume quickened for Mar delivery at approximately 12K contracts while Mar OI contracted at approximately 123K contracts.
For tomorrow…
ICE Mar futures finished the holiday-shortened week near unchanged, giving up 3 points, settling at 63.66 on light volume. Specs liquidated long positions, but the week capped with an 89 point daily gain on Thu. Dec gave back 11 points on the week, settling at 64.85.
For this week…
