WTI crude swings around $100 a barrel on 20-21 October, settles at $97.15 in latest report
In short
Chinese business outlets tracked WTI crude futures through repeated moves above and below $100 a barrel on 20 and 21 October. CLS reported WTI settlements of $103.66, $101.79 and, in its 22 October report, $97.15 a barrel. Some intraday percentage changes do not match those settlement figures.
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Chinese business outlets published a series of short price updates on WTI and Brent crude futures on 20 and 21 October. CLS and Jiemian reported that WTI settled at $103.66 a barrel in the session reported on 19-20 October, up $2.25 or 2.22 percent, while Brent settled at $109.55, down $0.31 or 0.28 percent. [ 1 , 2 ]
On 20 October CLS reported WTI up 1 percent at $99.521 at 14:00, and then said gains for WTI and Brent had narrowed to 0.06 percent and 0.22 percent after both had been up more than 1 percent. By 16:50 Yicai headlined that WTI had broken through $100. CLS and 36Kr put WTI at $100.324, up 1.81 percent, and Brent at $111.234, up 1.54 percent. CLS and Jiemian later reported WTI up 2.14 percent at $100.650 and Brent up 1.75 percent at $111.472. [ 3 , 4 , 5 , 6 , 7 , 8 , 9 ]
The gains then faded. CLS and Jiemian reported WTI at $98.512 in the evening, down 0.03 percent and having given back a 2.5 percent gain for the day. Jiemian reported at 23:22 that WTI was down 1.46 percent at $97.099 and Brent down 1.58 percent at $107.822. CLS and Jiemian reported settlements for 20 October of $101.79 for WTI, down $1.87 or 1.80 percent, and $108.79 for Brent, down $0.76 or 0.69 percent. [ 10 , 11 , 12 , 13 , 14 ]
On 21 October CLS reported WTI up 1 percent at $98.81 at 09:02 and up 2 percent at $99.871 at 18:04. At 18:15 it reported WTI at $100.202, up 2.44 percent, and Brent at $111.077, up 2.10 percent. At 20:33 CLS said both benchmarks had given back a 2.2 percent gain and turned lower. Its 22 October report put the WTI settlement at $97.15, down $0.67 or 0.68 percent. [ 15 , 16 , 17 , 18 , 19 ]
The settlement and intraday figures for WTI do not fully line up. The $100.324 quote is described as a 1.81 percent rise, and the $98.512 quote as a 0.03 percent fall, which implies a lower base than the $103.66 and $101.79 settlements. The documents do not explain the difference or give reasons for the price moves. [ 1 , 6 , 10 , 13 ]
Why it matters
The documents are price updates and give no causes, so their significance is limited to the level and direction of prices. They show WTI and Brent moving by around 1 to 2.5 percent within single days.
Key facts
- WTI crude futures settled at $103.66 a barrel on 19 October, up $2.25 or 2.22 percent; Brent settled at $109.55, down $0.31 or 0.28 percent. [ 1 , 2 ]
- On 20 October WTI rose above $100 a barrel; CLS reported $100.324 (up 1.81 percent) at 16:51 and $100.650 (up 2.14 percent) at 17:03, with Brent at $111.234 and $111.472. [ 5 , 6 , 7 , 8 , 9 ]
- By 21:52 on 20 October WTI had fallen back to $98.512, down 0.03 percent, having given back a 2.5 percent gain for the day. [ 10 , 11 ]
- WTI settled at $101.79 a barrel for 20 October, down $1.87 or 1.80 percent; Brent settled at $108.79, down $0.76 or 0.69 percent. [ 13 , 14 ]
- On 21 October CLS reported WTI at $100.202 (up 2.44 percent) and Brent at $111.077 (up 2.10 percent) at 18:15, before both gave back a 2.2 percent gain and turned lower. [ 17 , 18 ]
- CLS reported on 22 October that WTI settled at $97.15 a barrel, down $0.67 or 0.68 percent. [ 19 ]
Confirmed by several sources
- WTI settled at $103.66 a barrel in the session reported on 19-20 October, up $2.25 or 2.22 percent. [ 1 , 2 ]
- WTI rose above $100 a barrel on 20 October, with a quoted price of $100.324 and a 1.81 percent gain. [ 5 , 6 , 7 ]
- WTI was quoted at $100.650 (up 2.14 percent) and Brent at $111.472 (up 1.75 percent) on 20 October. [ 8 , 9 ]
- WTI fell back to $98.512 on the evening of 20 October, down 0.03 percent, after giving back a 2.5 percent intraday gain. [ 10 , 11 ]
- WTI settled at $101.79 and Brent at $108.79 for 20 October. [ 13 , 14 ]
Still unclear
- The WTI settlement prices do not match the intraday percentage changes. Settlements of $103.66 on 19 October and $101.79 on 20 October are reported, yet intraday quotes imply a lower base: $100.324 is described as up 1.81 percent, and $98.512 as down 0.03 percent. The documents do not explain the difference.
- The date of the session in which WTI settled at $97.15 is not stated. The CLS item is dated 22 October at 02:32 and gives no session date, and its $0.67 fall is not consistent with the $101.79 settlement reported earlier.
- The reasons for the price moves are not given. None of the documents states a cause for the rises and falls.
- Whether WTI rose above $100 again on 21 October rests on one outlet. Only CLS reported WTI at $100.202 (up 2.44 percent) on 21 October.
What local media are saying
Timeline, local time
- On 20 October CLS reported the WTI settlement of $103.66 a barrel. [ 1 ]
- On 20 October CLS reported WTI up 1 percent at $99.521. [ 3 ]
- CLS reported that WTI and Brent gains had narrowed to 0.06 percent and 0.22 percent, after both had been up more than 1 percent. [ 4 ]
- CLS reported WTI above $100, at $100.324, up 1.81 percent, with Brent at $111.234. [ 6 ]
- CLS reported WTI up 2.14 percent at $100.650 and Brent up 1.75 percent at $111.472. [ 8 ]
- CLS reported WTI back at $98.512, down 0.03 percent. [ 10 ]
- Jiemian reported WTI down 1.46 percent at $97.099 and Brent down 1.58 percent at $107.822. [ 12 ]
- On 21 October CLS reported the WTI settlement of $101.79, down 1.80 percent. [ 13 ]
- On 21 October CLS reported WTI at $100.202, up 2.44 percent, and Brent at $111.077, up 2.10 percent. [ 17 ]
- CLS reported WTI and Brent had given back a 2.2 percent gain and turned lower. [ 18 ]
- On 22 October CLS reported a WTI settlement of $97.15, down 0.68 percent. [ 19 ]