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Crude Oil Brent May '23 (CBK23)

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Crude Oil Brent Futures Market News and Commentary

Crude Oil Prices Pressured on Signs of Abundant Global Supplies

January WTI crude oil (CLF26) on Thursday closed down -0.78 (-1.34%), and January RBOB gasoline (RBF26) closed down -0.0232 (-1.15%).

Crude oil and gasoline retreated on Thursday, with crude posting a 7-week low and gasoline slumping to a 4.75-year nearest-futures low.  Concerns about a global oil glut continue to pressure crude prices.  Also, today's stock weakness has dampened optimism in the economic outlook, a bearish factor for energy demand.

Losses in crude were limited Thursday after the dollar index (DXY00) tumbled to a 1.75-month low.  Also, ramped up geopolitical risks in Venezuela, the world's 12th largest crude producer, are supportive for crude prices after US forces intercepted and seized a sanctioned oil tanker off the coast of Venezuela on Wednesday.  Reuters reported on Thursday that the US is preparing to intercept more sanctioned tankers transporting Venezuelan oil.  The seizures may make it more difficult for Venezuela to export its oil, as other ship... 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
$5,335/4,850
First Notice Date
03/31/23
Expiration Date
03/31/23 (expired)

Seasonal Chart

Crude Oil Brent May '23
Average Price Chart for 5 Prior May 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
70.12 +13.76%
on 03/20/23
86.75 -8.05%
on 03/07/23
-3.68 (-4.41%)
since 02/28/23
3-Month
70.12 +13.76%
on 03/20/23
88.78 -10.15%
on 01/23/23
-3.91 (-4.67%)
since 12/28/22
52-Week
70.12 +13.76%
on 03/20/23
106.03 -24.77%
on 06/09/22
-10.10 (-11.24%)
since 03/28/22

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Most Recent Stories

More News
Crude Oil Prices Pressured on Signs of Abundant Global Supplies

January WTI crude oil (CLF26 ) on Thursday closed down -0.78 (-1.34%), and January RBOB gasoline (RBF26 ) closed down -0.0232 (-1.15%). Crude oil and gasoline retreated on Thursday, with crude posting...

CLF26 : 57.83 (-1.08%)
RBF26 : 1.7654 (-0.90%)
DXY00 : 98.341 (-0.45%)
Nat-Gas Prices Plummet as US Weather Forecasts Warm

January Nymex natural gas (NGF26 ) on Thursday closed down sharply by -0.364 (-7.92%). Jan nat-gas prices plunged to a 5-week low on Thursday and settled sharply lower. The outlook for warmer US weather,...

NGF26 : 4.223 (-8.10%)
Crude Oil Prices Retreat on Concerns Over a Global Oil Glut

January WTI crude oil (CLF26 ) today is down -1.27 (-2.17%), and January RBOB gasoline (RBF26 ) is down -0.0342 (-1.92%). Crude oil and gasoline prices are sharply lower today, with crude posting a 7-week...

CLF26 : 57.83 (-1.08%)
RBF26 : 1.7654 (-0.90%)
DXY00 : 98.341 (-0.45%)
What is negative global angular momentum? & How did it thwart the bull market in natural gas?

Jim explains the crucial phenomenon of global atmospheric angular momentum (Weather geeks call it GLAAM, GLAM, or GAM)

TGF26 : 26.805s (+0.76%)
NGF26 : 4.223 (-8.10%)
NFF26 : 70.460s (+1.09%)
UNG : 13.07 (-8.35%)
BOIL : 29.86 (-9.82%)
KOLD : 29.00 (+9.77%)
Crude Oil Prices Recover as US Seizes a Tanker Off the Coast of Venezuela

January WTI crude oil (CLF26 ) on Wednesday closed up +0.21 (+0.36%), and January RBOB gasoline (RBF26 ) closed down -0.0082 (-0.46%). Crude oil and gasoline prices extended this week's losses on Wednesday,...

CLF26 : 57.83 (-1.08%)
RBF26 : 1.7654 (-0.90%)
Nat-Gas Prices Rebound on the Outlook for a Large Storage Withdrawal

January Nymex natural gas (NGF26 ) on Wednesday closed up by +0.021 (+0.46%). Jan nat-gas prices recovered from a 2-week low on Wednesday and settled higher. Short covering emerged in nat-gas futures...

NGF26 : 4.223 (-8.10%)
NextEra Is Doubling Down on Data Centers for Big Tech. Should You Buy NEE Stock Here?

The company targets to build 15 gigawatts of power capacity for data centers by 2035.

GOOG : 314.15 (-2.13%)
GOOGL : 312.99 (-2.25%)
META : 652.96 (+0.44%)
NEE : 81.11 (-0.20%)
Crude Oil Prices Weakens on Oversupply Concerns

January WTI crude oil (CLF26 ) today is down -0.48 (-0.82%), and January RBOB gasoline (RBF26 ) closed down -0.0239 (-1.34%). Crude oil and gasoline prices extended this week's losses today, with crude...

CLF26 : 57.83 (-1.08%)
RBF26 : 1.7654 (-0.90%)
Crude Holds 58.25 Ahead of a High-Stakes Fed Day

Monday’s risk-off tone followed through into Monday where crude posted another rough day settling at 58.25, off ~3% from Friday’s close. Saudi Arabia lowered their OSP (“Official Selling Price”)...

How Is PPL Corporation's Stock Performance Compared to Other Utilities Stocks?

PPL Corporation has underperformed the Utilities industry over the past year, but analysts are cautiously optimistic about the stock’s prospects.

XLU : 43.05 (+0.75%)
PPL : 33.46 (+0.60%)
ES : 67.51 (-0.18%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point 81.46
2nd Resistance Point 80.63
1st Resistance Point 80.20
Last Price 79.77s
1st Support Level 78.94
2nd Support Level 78.11
3rd Support Level 77.68

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52-Week High 106.03
Fibonacci 61.8% 92.31
Fibonacci 50% 88.07
Fibonacci 38.2% 83.84
Last Price 79.77s
52-Week Low 70.12

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