Economy / 1 MIN READ
Spot price at Cushing dropped in late May after a week of declines, as the market awaits the official June settlement price.
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Will the WTI crude oil settlement price be above 88.99 USD/Bbl on Jun 1, 2026?
West Texas Intermediate crude oil spot prices at Cushing, Oklahoma, fell sharply in the second half of May, dropping from $112.25 per barrel on May 18 to $97.63 on May 26, according to the Energy Information Administration. The decline of more than 12% over eight days preceded the June 1 settlement price that market participants are watching.
The EIA's daily spot price table shows the sustained slide, with no official reading yet available for June 1. The agency's next scheduled update for spot prices is June 3, which will include the June 1 settlement figure, per EIA release calendars.
The price movement occurred amid ongoing global supply and demand dynamics, though the available data does not pinpoint a single catalyst for the drop. The decline followed a period of relative stability earlier in the month.
The June 1 settlement price will be a key data point for the oil market. The EIA's official spot price release on June 3 will provide the definitive figure for that date.
The next major update comes from the EIA's Weekly Petroleum Status Report and spot price table on June 3, which will confirm the June 1 settlement level.
Economy / 1 MIN READ
Earlier this weekNo official count was published for the period, and no news surfaced of any unusual decrease in posting activity.
Economy / 1 MIN READ
Earlier this weekFutures data shows the benchmark contract traded no lower than $88 during the month, staying clear of the $85 level as geopolitical risks supported prices.