Cme oil futures ticked up to $82

CME oil futures ticked up to $82.85 as gasoline crack spreads widened, pointing to improving refinery margins. Equity markets for energy majors mirrored the move with gains across oil-linked stocks. U.S. stock futures rose on Monday following Friday’s advances. Futures of major benchmark indices were higher. The January rapeseed oil futures contract on the Zhengzhou Commodity Exchange also gained 1.08% to close at 9,818 yuan per tonne. Traders note CME oil futures trending sideways near $82.30 after mixed API inventory numbers. Volatility indicators suggest a possible breakout if macroeconomic data surprises in Friday’s nonfarm payrolls release.