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Crude Oil Brent Jul '22 (CBN22)

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Crude Oil Brent Futures Market News and Commentary

Crude Falls as a Slowing Economy Curbs Energy Demand

Aug WTI crude oil (CLQ22) on Thursday closed down -4.02 (-3.66%), and Aug RBOB gasoline (RBQ22) closed down -18.70 (-5.02%).  

Crude oil and gasoline prices Thursday closed sharply lower, with gasoline falling to a 1-3/4 month low.  Concerns that energy demand will suffer as the economy slows are undercutting energy prices.   Crude prices extended their losses Thursday after President Biden said he would ask U.S. allies in the Persian Gulf region to boost oil production when he meets with them during a trip to Saudi Arabia next month.  

Weaker-than-expected global economic data Thursday signals weakness in the economy that is bearish for crude demand and prices.  U.S. May personal spending rose +0.2% m/m, weaker than expectations of +0.4% m/m.  Also, the U.S. Jun MNI Chicago PMI fell -4.3 to a 1-3/4 year low of 56.0, weaker than expectations of 58.0.  In addition, the China Jun manufacturing PMI rose +0.6 to 50.2, weaker than expectations of 50.5.  Finally, Japan May ind... 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
$8,250/7,500
First Notice Date
05/31/22
Expiration Date
05/31/22 (expired)

Seasonal Chart

Crude Oil Brent Jul '22
Average Price Chart for 5 Prior Jul Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
101.30 +21.26%
on 05/11/22
125.28 -1.95%
on 05/31/22
+15.70 (+14.65%)
since 04/29/22
3-Month
92.59 +32.67%
on 03/15/22
129.94 -5.46%
on 03/07/22
+29.94 (+32.23%)
since 02/28/22
52-Week
62.00 +98.13%
on 08/20/21
129.94 -5.46%
on 03/07/22
+58.36 (+90.51%)
since 05/28/21

More Crude Oil Brent Quotes

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Most Recent Stories

More News
Little Pause

S&P 500 might be getting a little ahead of itself in the very short-term – the price decline looks in need of some really brief consolidation. Bonds have likewise paused, and the retreat in Treasury...

Happy Fourth of July

Yesterday we suggested a down day and the markets didn't disappoint. Will that change today?

Crude Falls as a Slowing Economy Curbs Energy Demand

Aug WTI crude oil (CLQ22 ) on Thursday closed down -4.02 (-3.66%), and Aug RBOB gasoline (RBQ22 ) closed down -18.70 (-5.02%). Crude oil and gasoline prices Thursday closed sharply lower, with gasoline...

CLQ22 : 107.95 (+2.07%)
RBQ22 : 3.6477 (+3.15%)
Nat-Gas Prices Plummet on Building U.S Nat-Gas Inventories

Aug Nymex natural gas (NGQ22 ) on Thursday closed down -1.074 (-16.53%). Nat-gas prices Thursday plummeted to a 3-month low and settled sharply lower. A larger-than-expected build in weekly EIA nat-gas...

NGQ22 : 5.740 (+5.83%)
Crude Sinks as President Biden Will Ask Persian Gulf Allies for More Crude

Aug WTI crude oil (CLQ22 ) this morning is down -4.28 (-3.90%), and Aug RBOB gasoline (RBQ22 ) is down -23.17 (-6.22%). Aug Nymex natural gas (NGQ22 ) is down -0.421 (-6.48%). Crude oil and gasoline prices...

CLQ22 : 107.95 (+2.07%)
RBQ22 : 3.6477 (+3.15%)
NGQ22 : 5.740 (+5.83%)
Turning the Screws

S&P 500 duly paused yesterday but the (beyond very short-term) outlook remains as bearish as before. Bonds agree, but in the interests of real assets, I would have preferred to see stronger performance...

Take No Quarter

Front-month WTI futures hit $114 a barrel before pulling back dramatically after the Energy Information Administration (EIA) reported a less than spectacular gasoline demand number even though US refining...

What you Need to Know Before Trading Futures On June 30th

Summary of key events on futures markets along with possible sell signal on Heating Oil Futures

Crude Prices Retreat as U.S. Gasoline Demand Falters

Aug WTI crude oil (CLQ22 ) on Wednesday closed down -1.98 (-1.77%), and Aug RBOB gasoline (RBQ22 ) closed down -12.09 (-3.14%). On Wednesday, crude oil and gasoline prices erased an early rally and closed...

CLQ22 : 107.95 (+2.07%)
RBQ22 : 3.6477 (+3.15%)
DXY00 : 105.431 (+0.71%)
Nat-Gas Prices Slip on a Mixed U.S. Weather Outlook

Aug Nymex natural gas (NGQ22 ) on Wednesday closed down -0.072 (-1.10%). Nat-gas prices Wednesday gave up an early advance and closed moderately lower on a mixed U.S. weather forecast, which should reduce...

NGQ22 : 5.740 (+5.83%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 128.56
2nd Resistance Point 126.92
1st Resistance Point 124.88
Last Price 122.84s
1st Support Level 121.20
2nd Support Level 119.56
3rd Support Level 117.52

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52-Week High 129.94
Last Price 122.84s
Fibonacci 61.8% 103.99
Fibonacci 50% 95.97
Fibonacci 38.2% 87.95
52-Week Low 62.00

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