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Crude Oil Brent Feb '23 (CBG23)

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Crude Oil Brent Futures Market News and Commentary

Crude Slumps on Dollar Strength and Suspect Chinese Energy Demand

Mar WTI crude oil (CLH23) on Friday closed down -2.49 (-3.28%), and Mar RBOB gasoline (RBH23) closed down -13.13 (-5.35%).  

Crude oil and gasoline prices Friday sold off to 3-week lows and closed sharply lower.  A rally in the dollar index (DXY00) to a 3-week high Friday undercut energy prices.  Crude was also under pressure on signs of an uneven recovery in China, keeping the country's energy demand depressed.

An uneven recovery in China's economy from ending pandemic restrictions is negative for crude prices.  Although a surge in consumer spending last month during the Lunar New Year holiday spurred optimism about China's rebound, signs of weakness among manufacturers and sales of cars and homes signal the recovery isn't yet on a sure footing.

Friday's U.S. economic data signals economic strength that supports energy demand and crude prices.  Jan nonfarm payrolls surged +517,000, much stronger than expectations of +188,000 and the largest increase in 6 months.  ... 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
12/29/22
Expiration Date
12/29/22 (expired)

Seasonal Chart

Crude Oil Brent Feb '23
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
75.11 +9.52%
on 12/09/22
89.37 -7.96%
on 12/01/22
-1.99 (-2.36%)
since 11/29/22
3-Month
75.11 +9.52%
on 12/09/22
97.85 -15.93%
on 11/07/22
-1.65 (-1.97%)
since 09/29/22
52-Week
72.21 +13.92%
on 01/03/22
111.34 -26.12%
on 06/08/22
+8.57 (+11.63%)
since 12/29/21

More Crude Oil Brent Quotes

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Most Recent Stories

More News
Friday's Last Call: Crude Oil's Hard Fall

The WTI crude oil market fell hard Friday, but there was much more to the selloff than just January's nonfarm payrolls number.

ZCH23 : 677-2 (unch)
GCJ23 : 1,887.3 (+0.57%)
CLH23 : 73.48 (+0.12%)
Crude Slumps on Dollar Strength and Suspect Chinese Energy Demand

Mar WTI crude oil (CLH23 ) on Friday closed down -2.49 (-3.28%), and Mar RBOB gasoline (RBH23 ) closed down -13.13 (-5.35%). Crude oil and gasoline prices Friday sold off to 3-week lows and closed sharply...

CLH23 : 73.48 (+0.12%)
RBH23 : 2.3183 (-0.12%)
DXY00 : 102.915s (+1.14%)
Nat-Gas Falls as Heating Demand Wanes and Inventories Climb

March Nymex natural gas (NGH23 ) on Friday closed down -0.046 (-1.87%). March nat-gas Friday tumbled to a 2-year nearest-futures low and closed moderately lower. The main bearish factor is a warmer-than-normal...

NGH23 : 2.444 (+1.41%)
Dollar Strength and Suspect Chinese Energy Demand Weighs on Crude Prices

Mar WTI crude oil (CLH23 ) this morning is down -0.91 (-1.20%), and Mar RBOB gasoline (RBH23 ) is down -8.07 (-3.29%). March Nymex natural gas (NGH23) is down -0.094 (-3.83%). Crude oil and gasoline prices...

CLH23 : 73.48 (+0.12%)
RBH23 : 2.3183 (-0.12%)
DXY00 : 102.915s (+1.14%)
Oil Hokey Pokey

You put the oil in, you take the oil out, you put the oil in, and you shake it all around. You do the hokey pokey and you turn yourself around. That’s what it is all about. When it comes to the US Strategic...

Jobs Friday

Will the numbers propel the markets Higher?

Crude Prices Slip on Dollar Strength and Robust U.S. Crude Inventories

Mar WTI crude oil (CLH23 ) on Thursday closed down -0.53 (-0.69%), and Mar RBOB gasoline (RBH23 ) closed down -0.15 (-0.06%). Crude oil and gasoline prices Thursday posted moderate losses, with crude...

CLH23 : 73.48 (+0.12%)
RBH23 : 2.3183 (-0.12%)
DXY00 : 102.915s (+1.14%)
Nat-Gas Prices Slip as Warm Winter Temps Undercut Demand

March Nymex natural gas (NGH23 ) on Thursday closed down -0.012 (-0.49%). Mar nat-gas Thursday fell to a 1-3/4 year nearest-futures low and closed moderately lower. Nat-gas prices are under pressure on...

NGH23 : 2.444 (+1.41%)
Crude Declines on Dollar Strength and Energy Demand Concerns

Mar WTI crude oil (CLH23 ) this morning is down -0.76 (-0.99%), and Mar RBOB gasoline (RBH23 ) is up +0.97 (+0.40%). March Nymex natural gas (NGH23 ) is up +0.059 (+2.39%). Crude oil and gasoline prices...

CLH23 : 73.48 (+0.12%)
RBH23 : 2.3183 (-0.12%)
NGH23 : 2.444 (+1.41%)
DXY00 : 102.915s (+1.14%)
The Message

Fed Chairman Jerome Powell said the disinflation process has started and while that caused a lot of commodities and stocks to soar, oil did not get the message.  Maybe it was because the Fed Chair stressed...

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Soft Signal Strength.

Key Turning Points

3rd Resistance Point 85.03
2nd Resistance Point 84.09
1st Resistance Point 83.17
Last Price 82.26s
1st Support Level 81.31
2nd Support Level 80.37
3rd Support Level 79.45

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52-Week High 111.34
Fibonacci 61.8% 96.39
Fibonacci 50% 91.77
Fibonacci 38.2% 87.16
Last Price 82.26s
52-Week Low 72.21

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