# MARKET WATCH: NYMEX crude oil for June settles below $49/bbl | Oil & Gas Journal

> US light sweet crude futures for June delivery settled at $48.84 per barrel on May 1, down 49 cents, as falling gasoline prices and rising US production weighed on the market. Gasoline futures hit their lowest front-month settlement since late February. Investors sold crude after gasoline stockpiles grew in late April.

- Date: 2017-05-02 · published 2017-05-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/10017-market-watch-nymex-crude-oil-for-june-settles-below-49-bbl-oil-and-gas-journal
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower crude and gasoline futures reduce fuel and transport costs and weaken the energy-linked support for biofuel feedstocks. OPEC's decision on production cuts at its May 25 meeting is a key factor for the next move.

## Read by commodity

- WTI: bearish ▼

## Sources

- ogj.com: https://www.ogj.com/general-interest/article/17290139/market-watch-nymex-crude-oil-for-june-settles-below-49-bbl

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.