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Crude Oil Brent F Jun '23 (QAM23)
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Crude Oil Brent (F) Futures Market News and Commentary

Crude Prices Tumble on Global Demand Concerns

July WTI crude oil (CLN23) on Tuesday closed down -3.21 (-4.42%), and July RBOB gasoline (RBN23) closed down -11.21 (-4.33%).  

Crude oil and gasoline prices Tuesday sold off sharply, with crude falling to a 2-week low and gasoline dropping to a 1-week low.  Crude oil prices fell on concern about global demand for crude oil.  Crude oil prices are also being undercut by expectations that OPEC+ will maintain current crude production levels when it meets later this week.

Signs of weakness in the physical market are undercutting crude prices after the June-July cash roll of WTI crude, which reflects crude supply balances at Cushing, the delivery point of WTI futures, dropped -29 cents per barrel, indicating lower demand for crude barrels being delivered in June than in July.

The lackluster recovery in China from its Covid Zero policy signals weaker-than-expected energy demand and is a bearish factor for crude prices.

A bearish factor for crude was Russian Deputy... Read more

Contract Specifications

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Contract
Brent Crude Oil Financial Futures
Contract Size
1,000 barrels (42,000 gallons)
Tick Size
1 cent per barrel ($10.00 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (Settles 1:30p.m.) CST
Exchange
NYMEX
Point Value
$1,000
Margin/Maintenance
$6,380/5,800
First Notice Date
04/28/23
Expiration Date
04/28/23 (expired)

Seasonal Chart

Crude Oil Brent F Jun '23
Average Price Chart for 5 Prior F 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
77.18 +3.06%
on 03/30/23
87.49 -9.09%
on 04/12/23
+1.40 (+1.79%)
since 03/28/23
3-Month
70.06 +13.53%
on 03/20/23
87.49 -9.09%
on 04/12/23
-6.02 (-7.04%)
since 01/27/23
52-Week
70.06 +13.53%
on 03/20/23
105.13 -24.34%
on 06/08/22
-12.19 (-13.29%)
since 04/28/22

More Crude Oil Brent (F) Quotes

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Crude Prices Tumble on Global Demand Concerns

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CLN23 : 68.89 (-0.82%)
RBN23 : 2.4743 (-0.20%)
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NGN23 : 2.309 (-0.77%)
Crude Prices Tumble on Global Demand Concerns

July WTI crude oil (CLN23 ) this morning is down -2.92 (-4.02%), and July RBOB gasoline (RBN23 ) is down -10.93 (-4.22%). July Nymex natural gas (NGN23 ) is down -0.124 (-5.13%). Crude oil and gasoline...

CLN23 : 68.89 (-0.82%)
RBN23 : 2.4743 (-0.20%)
NGN23 : 2.309 (-0.77%)
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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 82.05
2nd Resistance Point 80.83
1st Resistance Point 80.18
Last Price 79.54s
1st Support Level 78.31
2nd Support Level 77.09
3rd Support Level 76.44

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52-Week High 105.13
Fibonacci 61.8% 91.73
Fibonacci 50% 87.60
Fibonacci 38.2% 83.46
Last Price 79.54s
52-Week Low 70.06

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