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Crude Oil Brent Oct '24 (CBV24)

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Crude Oil Brent Prices for [[ item.sessionDateDisplayLong ]]
Find the latest Crude Oil Brent prices and Crude Oil Brent futures quotes for all active contracts below.
[[ timeframe ]] futures price quotes as of Mon, Jul 22nd, 2024.
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Looking for expired contracts? Check out our Crude Oil Brent Historical Prices page.

Crude Oil Brent Futures Market News and Commentary

Crude Oil Continues Lower on Economic Uncertainty

August WTI crude oil (CLQ24) today is down -0.24 (-0.30%), and Aug RBOB gasoline (RBQ24) is down -0.0096 (-0.39%).

Crude oil and gasoline prices today extended last Friday's sharp losses on concern about the global economy and US political uncertainty.  China's -10 bp rate cut today reinforced worries about China's weak economy.  The markets were already worried about Asian economic growth after Japan's Cabinet Office last Friday cut its Japan 2024 GDP projection to +0.9% from a previous estimate of +1.3%.   Meanwhile, US political uncertainty increased after President Biden dropped out of the presidential race and endorsed Vice President Harris.

Crude has support from wildfires in Canada that threaten to curb Canadian crude production.  Rystad Energy said last Friday that 52 out-of-control wildfires in Alberta, Canada, threaten nearly 500,000 bpd of crude oil sands output and pipeline shipments to the US.

A decline in crude oil in floating storage is bullish for p... Read more

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