Cl futures closed 0

CL futures closed 0.9% higher amid strong equity market rallies in energy stocks. Positive sentiment in related equities frequently supports futures pricing through correlation in investor portfolios. Futures on Brent crude ( BZ=F ), the global benchmark for oil, are down more than 13.5% on the year, while futures on West Texas Intermediate crude ( CL=F ), the US benchmark, are down more than 14.5%. The US's Energy Information Administration only expects that trend to continue, forecasting that US oil production will decline by about 1% in 2026 as oil prices fall, while natural gas ( NG=F ) production will remain roughly flat. Nasdaq futures (/NQU5) bounced back on Wednesday after yesterday’s losses that kicked off September trading. Alphabet (GOOGL) rose over 8% after the company avoided losing its Chrome browser in a federal ruling. Zscaler (ZS) fell 4% despite offering positive guidance during its earnings report. Campbell’s Co (CPB) rose 3.75% on a positive earnings report. Macy’s Inc (M) put in a big 18% gain in early trading after the retailer posted numbers that beat forecasts and raised its guidance. Energy analysts project CL futures could average $84–$86 in Q3 if current supply constraints, robust demand, and a weaker USD persist. Forward curves indicate tight spreads, showing expectations for continued near-term bullishness.