WTI Crude Oil (USO ETF) spotlight

Price action

The USO ETF, which tracks WTI Crude Oil, traded at $145.41 and fell 8.07% from the prior close as of Nov 4, 21:00 UTC, Finnhub reports. The USO ETF showed a five-session change of -3.61%. Its quote in the Finnhub feed was listed as not stale.

Trend and momentum

MarketAlleys Commodities desk records WTI Crude Oil as neutral with RSI(14) at 47.3. The trend table lists a last close of 99.64, a 50-day average of 98.25 and a long moving average of 88.71.

Trend status is a rules-based classification of moving averages and MACD on daily closes (as of Nov 4, 22:41 UTC); it is not a recommendation.

News flow

Reuters published a headline saying oil slumps after a midterm election rebuke to Trump raises bets on Iran war exit. Yahoo ran coverage linking lower oil to gains in the S&P 500 and Nasdaq amid the election results. Forexlive published a market wrap headlined that oil was crushed as Republicans blamed war for loss.

• Oil slumps after midterm election rebuke to Trump raises bets on Iran war exit — Reuters, Nov 4, 20:22 UTC
• S&P 500, Nasdaq Surge Ahead After Democratic Sweep, Dow Jumps To One-Year High On Lower Oil — AAPL, SNAP, INTC, CRWV, QCOM In Focus — Yahoo, Nov 4, 23:32 UTC
• Market Open: ASX set for sharp rebound as Wall Street rallies and oil tumbles — themarketherald.com.au, Nov 4, 22:11 UTC
• Dow Jones Futures: Elections, Plunging Oil Fuel Big Rally; Apple, Microsoft, Amazon Flash Buy Signals. CoreWeave, SpaceX Skid. — Yahoo, Nov 4, 21:53 UTC
• investingLive Americas market news wrap: Oil crushed as Republicans blame war for loss — Forexlive, Nov 4, 20:30 UTC

Across commodities

Finnhub shows all moves are from the prior close. WTI fell 8.07% while Brent (BNO) fell 8.64%; gold (GLD) rose 3.68% and silver (SLV) rose 5.17%; natural gas (UNG) rose 1.53% and copper (CPER) rose 0.21%.

What to watch

The Employment Situation is scheduled for Fri Nov 6, 13:30 UTC, according to bls.

• Fri Nov 6, 13:30 UTC — Employment Situation (US) (source)

Sources and data

• Reuters (secondary source) — Oil slumps after midterm election rebuke to Trump raises bets on Iran war exit
• Yahoo (secondary source) — S&P 500, Nasdaq Surge Ahead After Democratic Sweep, Dow Jumps To One-Year High On Lower Oil — AAPL, SNAP, INTC, CRWV, QCOM In Focus
• themarketherald.com.au (secondary source) — Market Open: ASX set for sharp rebound as Wall Street rallies and oil tumbles
• Forexlive (secondary source) — investingLive Americas market news wrap: Oil crushed as Republicans blame war for loss
• Finnhub (market data) — market data
• U.S. Bureau of Labor Statistics (primary source) — calendar
• U.S. Energy Information Administration via FRED (primary source) — calendar
• Federal Reserve (primary source) — calendar

Market data as of Nov 4, 21:00 UTC; report generated Nov 5, 01:30 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.