WTI crude oil (CL) front-month futures have plunged over 7% to around $95 per barrel as of May 6, 2026, unwinding a geopolitical risk premium amid reports of advancing U.S.-Iran diplomatic talks that could ease Strait of Hormuz disruptions and restore Gulf exports. This sharp pullback offsets bullish U.S. inventory draws—EIA data showed a 2.3 million barrel decline for the week ending May 1 and 6.2 million the prior week—alongside rising refinery runs ahead of peak summer driving season demand. OPEC+'s recent 188,000 barrels-per-day output hike adds downward pressure, while non-OPEC supply growth tempers cuts. Traders eye weekly EIA reports starting May 13 and the June 7 OPEC+ ministerial meeting for catalysts, with EIA's STEO forecasting Brent peaks in Q2 before easing on global stock builds.
Experimental AI-generated summary referencing Polymarket data. This is not trading advice and plays no role in how this market resolves. · UpdatedWill Crude Oil (CL) hit__ by end of June?
Will Crude Oil (CL) hit__ by end of June?
$14,546,487 Vol.
↑ $200
4%
↑ $175
6%
↑ $150
9%
↑ $140
14%
↑ $130
25%
↑ $120
37%
↑ $115
48%
↓ $80
63%
↓ $70
22%
↓ $60
8%
↓ $55
3%
↓ $52
3%
↓ $50
3%
↓ $47
2%
↓ $45
2%
↓ $40
2%
↓ $35
1%
$14,546,487 Vol.
↑ $200
4%
↑ $175
6%
↑ $150
9%
↑ $140
14%
↑ $130
25%
↑ $120
37%
↑ $115
48%
↓ $80
63%
↓ $70
22%
↓ $60
8%
↓ $55
3%
↓ $52
3%
↓ $50
3%
↓ $47
2%
↓ $45
2%
↓ $40
2%
↓ $35
1%
For CME Crude Oil (CL) futures contracts, the active month is the nearest of the contract months listed. The active month becomes a non-active month effective two business days prior to the spot month expiration. For example; if the spot month expires on a Friday the next listed contract will be considered the Active Month on the Wednesday prior to the spot month expiration.
Only the Active Month's official settlement price published by CME Group will be considered. Intraday trades, highs, lows, bids, offers, midpoint values, or indicative prices do not count.
Note that the settlement price may differ from the last traded price. CME's methodology to determine the settlement price can vary by commodity and contract.
Only days on which CME publishes an official settlement price for the Active Month will be included. Days without settlement prices (weekends, holidays, or market closures) are ignored.
This market will resolve based on the settlement price as it appears on the CME settlement page at the time it is first published for that trading day, regardless of any later corrections or updates.
The resolution source for this market is the CME Group website — specifically, the daily "Settlement" price for the Active Month of Crude Oil (CL) futures.
Market Opened: Mar 3, 2026, 3:47 PM ET
Resolver
0x65070BE91...For CME Crude Oil (CL) futures contracts, the active month is the nearest of the contract months listed. The active month becomes a non-active month effective two business days prior to the spot month expiration. For example; if the spot month expires on a Friday the next listed contract will be considered the Active Month on the Wednesday prior to the spot month expiration.
Only the Active Month's official settlement price published by CME Group will be considered. Intraday trades, highs, lows, bids, offers, midpoint values, or indicative prices do not count.
Note that the settlement price may differ from the last traded price. CME's methodology to determine the settlement price can vary by commodity and contract.
Only days on which CME publishes an official settlement price for the Active Month will be included. Days without settlement prices (weekends, holidays, or market closures) are ignored.
This market will resolve based on the settlement price as it appears on the CME settlement page at the time it is first published for that trading day, regardless of any later corrections or updates.
The resolution source for this market is the CME Group website — specifically, the daily "Settlement" price for the Active Month of Crude Oil (CL) futures.
Resolver
0x65070BE91...WTI crude oil (CL) front-month futures have plunged over 7% to around $95 per barrel as of May 6, 2026, unwinding a geopolitical risk premium amid reports of advancing U.S.-Iran diplomatic talks that could ease Strait of Hormuz disruptions and restore Gulf exports. This sharp pullback offsets bullish U.S. inventory draws—EIA data showed a 2.3 million barrel decline for the week ending May 1 and 6.2 million the prior week—alongside rising refinery runs ahead of peak summer driving season demand. OPEC+'s recent 188,000 barrels-per-day output hike adds downward pressure, while non-OPEC supply growth tempers cuts. Traders eye weekly EIA reports starting May 13 and the June 7 OPEC+ ministerial meeting for catalysts, with EIA's STEO forecasting Brent peaks in Q2 before easing on global stock builds.
Experimental AI-generated summary referencing Polymarket data. This is not trading advice and plays no role in how this market resolves. · Updated
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