OIL declines accelerate after futures rollover

Today, we had a rollover of the WTI crude oil futures contract. The loss is 4%, but only 1.5% is real movement on the price, and the rest is a futures contract roll. The powerful gap between the two closest contracts indicates theoretically high demand, but at the same time it is also a warning signal. Too much backwardation in the past has led to the initiation of a correction in the oil market.

The fundamentals in the oil market are rather supportive: the recent strong decline in oil inventories, associated with the peak “driving season.” Attacks on tankers in the Middle East, or also the potential election of Trump, which is ambiguous for oil (potentially increasing US production, but possible geopolitical tensions with China).
Nonetheless, there has been news of demand uncertainty from China, which may support a sell-off in the oil market. Most likely, however, the current sell-off is related to the desire to realize profits and exit long positions after reaching the extreme backwadration at $1.6 on the upcoming contracts.

Source: xStation5

23 June 2026, 8:00 AM

Chart of the Day: Gold under pressure again from the Fed and inflation concerns (23.06.2026)

23 June 2026, 6:04 AM

Morning Wrap - De-escalation in Hormuz, SpaceX drop fuels Big Tech decline (23.06.2026)

22 June 2026, 6:40 PM

Daily Summary: Wall Street in limbo as US considers lifting sanctions on Iranian oil

22 June 2026, 8:23 AM

Oil loses again, despite turmoil around Hormuz

Commodities

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days