Commodities update: WTI led moves at Oct 26, 18:00 UTC

Where prices stand

The USO ETF, which tracks WTI Crude Oil, fell 1.65% to $166.73; the BNO ETF, which tracks Brent Crude, fell 0.92% to $70.34. The CPER ETF, which tracks Copper, rose 0.95% to $39.43; the GLD ETF, which tracks Gold, rose 0.51% to $368.49; and the SLV ETF, which tracks Silver, rose 0.31% to $48.87. The UNG ETF, which tracks Natural Gas, fell 0.10% to $9.5700. All moves are from the prior close and prices are as of Oct 26, 18:00 UTC, per Finnhub.

Trend check

Finnhub lists WTI Crude Oil as bullish with RSI(14) 62.5; its close 107.89 sits above the 50-day SMA 94.53 and the long SMA 86.42. Brent Crude is neutral with RSI(14) 45.1; its close 115.22 is near the 50-day SMA 111.01 and above the long SMA 95.84. Natural Gas is neutral with RSI(14) 50.9; its close 3.1000 is modestly above the 50-day SMA 2.9632 and below the long SMA 3.4653.

Trend status is a rules-based classification of moving averages and MACD on daily closes (as of Oct 25, 22:40 UTC); it is not a recommendation.

In the news

Reuters reported that an oil spill off the UAE widens, with satellite images showing more beach closures. Yahoo published coverage noting US equity futures rose pre-bell as traders assess declining oil prices and the week’s Fed decision, and ran live market pages titled Stock Market Today and a preview headlined The Fed + tech, oil earnings = an exciting week for investors.

• Oil spill off UAE widens, satellite images show, prompting more beach closures — Reuters, Oct 26, 12:53 UTC
• Update: US Equity Futures Rise Pre-Bell as Traders Assess Declining Oil Prices, Await Fed Rate Decision This Week — Yahoo, Oct 26, 13:02 UTC
• Stock Market Today: Dow Rises As Oil Prices Fall; Tesla Shares Rally On This Brokerage's Upgrade (Live Coverage) — Yahoo, Oct 26, 13:49 UTC
• The Fed + tech, oil earnings = an exciting week for investors — Yahoo, Oct 26, 13:03 UTC

What to watch

The FOMC rate decision is scheduled Wed Oct 28, 18:00 UTC, per federalreserve. Personal income and outlays / PCE (BEA) is scheduled Thu Oct 29 (time not confirmed), per fred. GDP (BEA) is scheduled Thu Oct 29 (time not confirmed), per fred.

• Wed Oct 28, 18:00 UTC — FOMC rate decision (US) (source)
• Thu Oct 29 (time not confirmed) — Personal income and outlays / PCE (BEA) (US) (source)
• Thu Oct 29 (time not confirmed) — GDP (BEA) (US) (source)

Sources and data

• Reuters (secondary source) — Oil spill off UAE widens, satellite images show, prompting more beach closures
• Yahoo (secondary source) — Update: US Equity Futures Rise Pre-Bell as Traders Assess Declining Oil Prices, Await Fed Rate Decision This Week
• Finnhub (market data) — market data
• Federal Reserve (primary source) — calendar
• U.S. Energy Information Administration via FRED (primary source) — calendar
• U.S. Bureau of Labor Statistics (primary source) — calendar

Market data as of Oct 26, 18:00 UTC; report generated Oct 26, 18:00 UTC. All times are UTC. Each table row shows its own timestamp and provider.

This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.