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Crude Oil Brent Jan '13 (CBF13)

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Crude Oil Brent Futures Market News and Commentary

Crude Settles Higher After Saudi Arabia Hikes Oil Prices

June WTI crude oil (CLM24) on Monday closed up +0.37 (+0.47%), and June RBOB gasoline (RBM24) closed up +3.31 (+1.30%).

Crude oil and gasoline prices on Monday settled moderately higher.  Sunday's action by Saudi Arabia to raise crude prices for delivery next month for Asian customers signals confidence in global energy demand and is bullish for crude prices.  Also, Monday's rally in the S&P 500 to a 3-week high shows confidence in the economic outlook that is positive for energy demand and crude prices.  Crude oil prices initially fell back Monday after Hamas said it would agree to a cease-fire proposal by Qatar and Egypt, although oil prices then gained after the close when Israel rejected that cease-fire proposal.

In a bullish factor for crude oil prices, Saudi Arabia's state-owned Aramco Sunday raised crude prices for June delivery to Asian customers by 90 cents a barrel, above the consensus of 60 cents.

Concerns about the intensification of the Hamas-Israel co... 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
$6,765/6,150
First Notice Date
12/14/12
Expiration Date
12/14/12 (expired)

Seasonal Chart

Crude Oil Brent Jan '13
Average Price Chart for 5 Prior Jan Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
106.63 +2.36%
on 12/06/12
112.33 -2.83%
on 12/03/12
+0.67 (+0.62%)
since 11/14/12
3-Month
104.09 +4.86%
on 11/05/12
115.97 -5.88%
on 09/17/12
-6.59 (-5.69%)
since 09/14/12
52-Week
90.16 +21.06%
on 06/22/12
120.77 -9.62%
on 03/19/12
+7.74 (+7.63%)
since 12/14/11

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Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 110.36
1st Resistance Point 109.75
Last Price 109.15s
1st Support Level 108.37
2nd Support Level 107.60
3rd Support Level N/A

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52-Week High 120.77
Last Price 109.15s
Fibonacci 61.8% 109.08
Fibonacci 50% 105.46
Fibonacci 38.2% 101.85
52-Week Low 90.16

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