Commodities

Crude Oil Futures Close Higher at $84.91

Crude oil futures settled at $84.91, marking an increase of $1.68 or 2.02%. This rise follows a significant low of $67.04 reached earlier in July, representing a 25.48% increase since that time. The national average price for gasoline has also seen an uptick, currently at $4.02 per gallon.

Prices rise for six out of the last seven trading sessions amid ongoing market volatility.

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Executive summary

Crude oil futures settled at $84.91, marking an increase of $1.68 or 2.02%. This rise follows a significant low of $67.04 reached earlier in July, representing a 25.48% increase since that time. The national average price for gasoline has also seen an uptick, currently at $4.02 per gallon.

Crude oil futures have closed at $84.91, reflecting a gain of $1.68, or 2.02%, as the market continues to show volatility. This marks the sixth increase in the last seven trading days. The price of crude oil reached a low of $67.04 on July 2, and since then, it has increased by 25.48%. In parallel, the AAA reported that the average price for a gallon of gasoline has risen from a low of $3.78 on July 7 to the current average of $4.02. Looking ahead, the price of regular unleaded gasoline is projected to be around $2.98 per gallon by February 27, 2026, as geopolitical tensions in the Middle East continue to influence oil and gasoline prices. Historical data indicates that on January 20, 2025, the average price was approximately $3.10 per gallon, with AAA's reports showing slight fluctuations around that date.

Market impact

This article presents verified public information. Price reaction depends on liquidity and what was already priced in — no directional call is made here.

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NIC · Impact scores

Global: 0 · Market: 0 · Urgency: 0 · Confidence: 0 · Neutral

Market reaction

  • USOIL: Price snapshot pending · T-15m / T0 / T+15m / T+60m
  • NG: Price snapshot pending · T-15m / T0 / T+15m / T+60m
  • DJP: Price snapshot pending · T-15m / T0 / T+15m / T+60m

Trading insight (analysis only)

Analysis only. Not a trade signal. Not investment advice. No Entry/TP/SL is generated by NIC.

Scenarios

  • Continuation if confirmation holds after the news window.
  • Whipsaw risk is elevated inside the first 15–60 minutes after release.
  • Watch correlated assets for confirmation rather than reacting to the headline alone.

Watch factors

  • Actual vs forecast surprise (priced-in risk)
  • USD / yields impulse if macro-sensitive
  • Liquidity and spread during the news window
  • Follow-through after T+15m / T+60m
  • Relative reaction in oil
  • Relative reaction in natural_gas
  • Relative reaction in commodities

Knowledge links

MarketsOilCommoditiesAIGeopolitics

References

Disclaimer: For informational purposes only. Not investment advice.

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