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Crude Oil Brent Feb '16 (CBG16)

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Crude Oil Brent Futures Market News and Commentary

Crude Settles Sharply Higher on Expectations for OPEC+ to Cut Production

Nov WTI crude oil (CLX22) on Monday closed up +4.14 (+5.21%), and Nov RBOB gasoline (RBX22) closed up +14.31 (+6.04%).  

Crude oil and gasoline prices Monday rallied sharply to 1-week highs on dollar weakness and expectations for OPEC+ to cut its crude production targets when it meets on Wednesday.  However, crude prices fell back from their best levels on a decline in global manufacturing activity, which suggested weaker energy demand.

Crude oil prices rallied Monday after delegates of OPEC+ said the group is considering cutting production by more than 1.0 million bpd when it meets Wednesday.

Weaker-than-expected global manufacturing activity is bearish for energy demand and crude prices.  Monday’s economic news showed the U.S. Sep ISM manufacturing index fell -1.9 to a 2-1/4 year low of 50.9, weaker than expectations of 52.0.  Also, the Eurozone Sep global manufacturing PMI was revised downward by -0.1 to a 2-1/4 year low of 48.4.  In addition, the  Japan Sep Jib... Read more

Contract Specifications

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Contract
Brent Crude Oil
Contract Size
42,000 U.S. Gallons
Tick Size
1 cent per barrel ($10.00 per contract)
Trading Hours
8:00p.m. - 6:00p.m. (EST)
Exchange
ICE/EU
Point Value
$1,000
Margin/Maintenance
$9,350/8,500
First Notice Date
01/14/16
Expiration Date
01/14/16 (expired)

Seasonal Chart

Crude Oil Brent Feb '16
Average Price Chart for 5 Prior Feb Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
29.73 +4.37%
on 01/14/16
39.69 -21.82%
on 12/15/15
-7.13 (-18.68%)
since 12/14/15
3-Month
29.73 +4.37%
on 01/14/16
52.50 -40.90%
on 11/03/15
-20.12 (-39.34%)
since 10/14/15
52-Week
29.73 +4.37%
on 01/14/16
72.86 -57.41%
on 05/06/15
-28.86 (-48.19%)
since 01/14/15

More Crude Oil Brent Quotes

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Most Recent Stories

More News
Nat-Gas Prices Sharply Lower on Record U.S. Output

Nov Nymex natural gas (NGX22 ) on Monday closed down by -0.296 (-4.37%). Nov nat-gas prices on Monday tumbled to a 2-1/2 month low and closed sharply lower. Gas prices Monday sold off on record U.S. nat-gas...

NGX22 : 6.470s (-4.37%)
Crude Settles Sharply Higher on Expectations for OPEC+ to Cut Production

Nov WTI crude oil (CLX22 ) on Monday closed up +4.14 (+5.21%), and Nov RBOB gasoline (RBX22 ) closed up +14.31 (+6.04%). Crude oil and gasoline prices Monday rallied sharply to 1-week highs on dollar...

CLX22 : 83.63s (+5.21%)
RBX22 : 2.5129s (+6.04%)
SPX Bottom Near?

S&P 500 reversed to the downside on high volume, and the open short position became profitable from the get-go. No matter the premarket jubilation driven by retreat in bond yields, the bottom is clearly...

Chesapeake Energy's 9.5% Dividend Yield Attracts Value Buyers

Chesapeake Energy's base and variable dividends now total $2.32 per quarter or $9.28 on an annual basis, giving CHK stock an attractive 9.5% yield. This is attracting value buyers to the stock.

CHK : 98.93 (+5.01%)
Crude Rallies on Expectations for OPEC+ to Cut Production

Nov WTI crude oil (CLX22 ) this morning is up +3.07 (+3.86%), and Nov RBOB gasoline (RBX22 ) is up +11.06 (+4.67%). Nov Nymex natural gas (NGX22 ) is down by -0.373 (-5.51%). Crude oil and gasoline prices...

CLX22 : 83.63s (+5.21%)
RBX22 : 2.5129s (+6.04%)
NGX22 : 6.470s (-4.37%)
Making Its Move

Oil prices are soaring after Friday's dismal performance after it became apparent that OPEC plus Russia it's getting ready to make its move. It really shouldn't be a surprise to anyone who's been paying...

Downward Trend Continues

On Friday the Dow dropped 500 points, will the downward trend continue?

Weekly highlights: Heating Oil / Diesels

The fundamentals for kero / diesels tightened last week with US total distillate stocks falling by 2.9mb and demand rising by 769,000 bpd. As a result days cover fell sharply by 7 to 27.4 days. Days...

HOX22 : 3.3691s (+4.58%)
RBX22 : 2.5129s (+6.04%)
ZKV22 : 2.161s (unch)
LOG23 : 3.1149s (+3.26%)
LFX22 : 974.50s (+3.48%)
LGZ22 : 2.3932s (+5.02%)
RBPAUS04.CM : 3.5301 (-1.35%)
RBPAUS06.CM : 4.1609 (-0.79%)
HOPAUS02.CM : 4.1682 (-0.06%)
HOPAUS01.CM : 4.8464 (-0.29%)
XLE : 76.09 (+5.65%)
Weekly highlights: Gasoline

Gasoline fundamentals also improved with stocks falling and demand rising. As a result days cover fell by 1.7 to 24 days. However, demand remains weak. Stocks should continue to edge lower over the...

HOX22 : 3.3691s (+4.58%)
RBX22 : 2.5129s (+6.04%)
ZKV22 : 2.161s (unch)
LOG23 : 3.1149s (+3.26%)
LFX22 : 974.50s (+3.48%)
LGZ22 : 2.3932s (+5.02%)
RBPAUS04.CM : 3.5301 (-1.35%)
RBPAUS06.CM : 4.1609 (-0.79%)
HOPAUS02.CM : 4.1682 (-0.06%)
HOPAUS01.CM : 4.8464 (-0.29%)
XLE : 76.09 (+5.65%)
Weekly highlights: Crude

Crude stocks posted a surprise fall last week but should trend higher over the next 4-6 weeks. Demand surged 1.8m bpd but will likely correct lower. Days cover fell 2 to 20.7 days. Attention is now...

CLX22 : 83.63s (+5.21%)
CBZ22 : 88.87 (+4.38%)
WIZ22 : 82.70s (+5.06%)
QAZ22 : 88.86s (+4.37%)
CLPAUS009.CM : 85.780 (-1.34%)
CLPAUS127.CM : 76.055 (unch)
CLPAUS134.CM : 85.500 (unch)
USO : 67.89 (+4.00%)
XLE : 76.09 (+5.65%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 32.16
1st Resistance Point 31.60
Last Price 31.03s
1st Support Level 30.10
2nd Support Level 29.16
3rd Support Level N/A

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52-Week High 72.86
Fibonacci 61.8% 56.38
Fibonacci 50% 51.29
Fibonacci 38.2% 46.21
Last Price 31.03s
52-Week Low 29.73

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