Commodities Week: WTI Spot at $98.73; Bitcoin at $82,910.80

Bitcoin edged up 0.44% to $82,910.80 on Saturday, Oct. 10, from $82,544.71 on Oct. 9, a gain of $366.09. With U.S. commodity and currency markets closed for the weekend, the most recent readings for oil and the dollar date to Friday.

FRED's WTI crude spot price stood at $98.73 as of Oct. 9. The Fed's broad trade-weighted dollar index was 121.60 on the same date. Treasury yields ended the week with the 10-year at 5.24%, down 4 basis points from 5.28% on Oct. 2.

Energy diplomacy featured in weekend coverage. Fox Business aired a segment titled “Is the US-Russia diesel deal more than just symbolic?” CNBC reported “Putin relayed Iran war proposal to Trump, Kremlin says.” Fox Business also carried “Russia has been undergoing severe attacks, expert says.”

Several energy data points are on the calendar for the coming week. The OPEC monthly report is scheduled for Oct. 13. The API crude oil stock change for the week to Oct. 9 is due Oct. 14, with an estimate of a 1.9 million build after a 2.09 million draw. The EIA's crude inventory figure follows on Oct. 15, with an expected decline of 0.3 million after a 3.186 million drop, and gasoline stocks are forecast to fall 0.5 million.

Weekly CFTC positioning data are due Oct. 16. The prior readings showed speculative net positions of 210.3 thousand contracts in gold and 99.1 thousand in crude oil. Import prices for September, also due Oct. 16, are expected to rise 0.8% month over month.

Data

Data: FMP, FRED. Figures are close-to-close unless stated.

In the news

• Fox Business: Is the US-Russia diesel deal more than just symbolic?
• CNBC: Putin relayed Iran war proposal to Trump, Kremlin says
• Fox Business: Russia has been undergoing severe attacks, expert says