WTI Crude Oil Futures Fill Historical Gap
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 06 2026
0mins
Source: CNBC
- Historical Gap Filled: The recent spike in WTI crude oil futures has filled the only unfilled down gap since the 1980s, marking a significant turning point in the market that could influence investor sentiment and trading strategies.
- Price Volatility Analysis: As of yesterday's close, WTI crude oil was priced at $88.33 per barrel, filling the previous down gap, indicating a swift market reaction that may lead to selling pressure in the short term.
- Future Trend Prediction: Currently, there remains only one unfilled up gap at $67.83 per barrel, with analysts predicting that this gap will be filled sooner rather than later, suggesting potential upward movement in oil prices that may attract investor attention.
- Market Sell Signal: At the current price level, analysts recommend selling oil, reflecting a cautious outlook on future price movements, which could impact investor decisions and market liquidity.
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Analyst Views on XOM
Wall Street analysts forecast XOM stock price to fall
19 Analyst Rating
12 Buy
7 Hold
0 Sell
Moderate Buy
Current: 160.780
Low
114.00
Averages
132.17
High
158.00
Current: 160.780
Low
114.00
Averages
132.17
High
158.00
About XOM
Exxon Mobil Corporation is an energy provider and chemical manufacturer. The Company’s principal business involves exploration for, and production of, crude oil and natural gas; the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a wide variety of specialty products; and pursuit of lower-emission and other new business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, Proxxima systems, carbon materials, and lithium. Its Upstream segment explores for and produces crude oil and natural gas. The Energy Products, Chemical Products, and Specialty Products segments manufacture and sell petroleum products and petrochemicals. Energy Products segment includes fuels, aromatics, and catalysts and licensing. Chemical Products segment consists of olefins, polyolefins, and intermediates. Specialty Products segment includes finished lubricants, basestocks and waxes, synthetics, and elastomers and resins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Asia-Pacific Market Reaction: While the Australian and Hong Kong markets were closed for the Easter holiday, Japan's Nikkei 225 futures rose to 53,285 in Chicago, demonstrating investor optimism about market prospects.
- U.S. Market Volatility: U.S. major indexes experienced volatility amid rising oil prices, with the Dow Jones Industrial Average declining by 61.07 points, yet the S&P 500 managed a slight increase of 0.11%, showcasing the market's adaptability to oil price fluctuations.
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See More
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- Dividend Stability: Chevron has raised its dividend for 39 consecutive years, currently offering a forward yield of 3.6%, which not only reflects the company's strong cash flow management but also boosts investor confidence in its long-term investment value, especially amid oil price volatility.
- Cost Control Measures: To stabilize margins, Chevron plans to cut structural costs by $3 billion to $4 billion by the end of 2026, a move that will help enhance its profitability in a competitive energy market and provide funding for future investments.
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