Up 6% on the day

The June contract for WTI crude oil futures has reached $21 in after-hours trading. That is up 6.07%.

The June contract settle at 2:30 PM ET at $20.39.

The July contract is also moving higher but at a slower pace. It currently trades at $23.34 up $1.05 or 4.67%

Stocks continue to rally into the close, with the S&P now trading near the highs for the day at 2842.80. That's up 0.43%. The NASDAQ index is up over 1% at 8698.25, up 93.2 points or 1.08%.

The Dow industrial average is also in the black with a 15 point gain or 0.06% at 23738 currently.