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Crude Oil Brent Mar '16 (CBH16)

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Crude Oil Brent Futures Market News and Commentary

Crude and Gasoline Climb after the OPEC+ JMMC Meeting Ends Without a Recommendation for Increased Output

Apr WTI crude oil (CLJ21) this morning is up +1.54 (+2.58%), and Apr RBOB gasoline (RBJ21) is up +2.12 (+1.09%).

Crude oil and gasoline prices this morning are moderately higher. Crude prices are rallying today after the OPEC+ Joint Ministerial Monitoring Committee (JMMC) meeting ended without a recommendation for an increase in OPEC+ crude output. Energy prices extended their gains after today's weekly EIA data showed recent supplies of gasoline and distillates plunged after refinery utilization rates sank to the lowest on record after a deep freeze in Texas forced refiners to close.

Crude prices garnered support today after today's meeting of OPEC+ JMMC ended without any recommendation on crude output policy before Thursday's full meeting of the group. Russia is advocating for a 500,000 bbl increase in OPEC+ crude output, below the consensus for a 1.0 million bpd increase in crude production. Also, Saudi Arabia is discussing only gradually phasing-ou... 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
$8,250/7,500
First Notice Date
02/12/16
Expiration Date
01/28/16 (expired)

Seasonal Chart

Crude Oil Brent Mar '16
Average Price Chart for 5 Prior Mar Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
27.10 +28.19%
on 01/20/16
39.30 -11.60%
on 01/04/16
-3.48 (-9.11%)
since 12/29/15
3-Month
27.10 +28.19%
on 01/20/16
53.09 -34.56%
on 11/03/15
-16.29 (-31.92%)
since 10/29/15
52-Week
27.10 +28.19%
on 01/20/16
73.21 -52.55%
on 05/06/15
-25.04 (-41.89%)
since 01/29/15

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Ideas for energy futures

We give you a simple to use view of how energy commodities could likely trade during the session for today.

Crude oil Tuesday Forecast

The downtrend may be expected to continue, while market is trading below resistance level 60.67, which will be followed by reaching support level 58.60

Crude oil Tuesday Forecast

The downtrend may be expected to continue, while market is trading below resistance level 60.67, which will be followed by reaching support level 58.60

Midday Market Minute

S&P, NQ, Crude, Gold, Silver, and more

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 35.85
1st Resistance Point 35.30
Last Price 34.74s
1st Support Level 33.89
2nd Support Level 33.03
3rd Support Level N/A

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52-Week High 73.21
Fibonacci 61.8% 55.60
Fibonacci 50% 50.15
Fibonacci 38.2% 44.71
Last Price 34.74s
52-Week Low 27.10

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