Nymex WTI crude Aug. futures settle at $66.21 a barrel

Nymex WTI crude Aug. futures settle at $66.21 a barrel

The NYMEX WTI crude August futures settled at $66.21 a barrel on July 2, 2025, according to data from CME Group [3]. This marks a decrease of 0.76% from the previous day's close of $67.20. The trading volume for the day was 317 contracts, and the open interest stood at 16,777.

The settlement comes amidst ongoing market volatility driven by uncertainty over US trade tariffs and geopolitical tensions. Crude oil futures have been trading lower due to concerns over the demand outlook, as steep US trade tariffs could impact global economic growth and, consequently, the demand for commodities such as crude oil [2].

The latest data from CME Group highlights the liquidity and depth of the WTI crude oil futures market, with over 1 million contracts traded daily and approximately 4 million contracts of open interest. This liquidity provides investors with a robust platform for hedging and trading oil-related assets.

Investors are closely monitoring the trade negotiations between the US and the European Union (EU), with a potential deadline of August 1. The threat of a 30% tariff on EU goods by the US has sparked concerns among market participants about the potential impact on transatlantic trade [2].

The WTI crude oil futures market remains an essential benchmark for the global oil price, reflecting the U.S.'s role as a major crude oil producer and exporter. As such, the settlement price of $66.21 a barrel provides valuable insights into the current market sentiment and the broader economic outlook.

References:
[1] https://www.cnbc.com/quotes/@CL.1
[2] https://www.thehindubusinessline.com/markets/commodities/crude-oil-futures-fall-amid-uncertainty-over-us-trade-tariffs/article69841176.ece
[3] https://www.cmegroup.com/markets/energy/crude-oil/light-sweet-crude.settlements.html