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Crude Oil Brent Aug '24 (CBQ24)

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Crude Oil Brent Futures Market News and Commentary

Crude Oil Prices Slip as Saudi Aramco Cuts Prices

December WTI crude oil (CLZ25) on Thursday closed down -0.17 (-0.29%), and December RBOB gasoline (RBZ25) closed up +0.0563 (+2.95%).

Crude oil and gasoline prices settled mixed on Thursday, with crude falling to a 2-week low.  Demand concerns are weighing on oil prices after Saudi Arabia on Thursday lowered the price of its main crude grade to Asia for delivery next month to the lowest level in 11 months.  Crude prices also have a negative carryover from Wednesday, when weekly EIA crude supplies unexpectedly increased.  Gasoline rallied Thursday amid tight supplies, following the EIA's Wednesday report that gasoline inventories tumbled to an 11-year low.  Thursday's weaker dollar limited losses in crude oil.

Thursday's action by Saudi Arabia's state producer, Aramco, to cut the price of its Arab Light crude by $1.20 a barrel to an 11-month low for Asian customers with December delivery signals weakened energy demand and is bearish for oil prices.

Strength in the c... 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
06/28/24
Expiration Date
06/28/24 (expired)

Seasonal Chart

Crude Oil Brent Aug '24
Average Price Chart for 5 Prior Aug 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
76.76 +12.57%
on 06/04/24
87.22 -0.93%
on 06/28/24
+2.47 (+2.94%)
since 05/28/24
3-Month
76.76 +12.57%
on 06/04/24
90.22 -4.22%
on 04/12/24
+1.06 (+1.24%)
since 03/28/24
52-Week
71.99 +20.03%
on 07/03/23
90.22 -4.22%
on 04/12/24
+13.89 (+19.15%)
since 06/28/23

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Most Recent Stories

More News
Crude Oil Prices Slip as Saudi Aramco Cuts Prices

December WTI crude oil (CLZ25 ) on Thursday closed down -0.17 (-0.29%), and December RBOB gasoline (RBZ25 ) closed up +0.0563 (+2.95%). Crude oil and gasoline prices settled mixed on Thursday, with crude...

CLZ25 : 59.69 (+0.44%)
RBZ25 : 1.9709 (+0.27%)
Nat-Gas Prices Climb on Expectations of Colder US Weather

December Nymex natural gas (NGZ25 ) on Thursday closed up +0.125 (+2.95%). Dec nat-gas prices moved higher on Thursday due to expectations that colder US temperatures will boost heating demand for nat-gas....

NGZ25 : 4.394 (+0.85%)
How Low Can Crude Oil’s Price Fall?

Nearby NYMEX crude oil futures have been in a bearish trend since March 2022, when they reached over $130 per barrel following Russia’s invasion of Ukraine. It may only be a matter of time before the...

CLZ25 : 59.69 (+0.44%)
SCO : 18.49 (+0.33%)
Tesla Is Set to Buy $2 Billion in Energy Storage Systems Batteries. What Does That Actually Mean for TSLA Stock?

What does Tesla’s reported $2 billion battery deal with Samsung SDI actually mean for its stock?

STLA : 10.08 (-1.66%)
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Crude Oil Under Pressure as Saudi Aramco Cuts Prices

December WTI crude oil (CLZ25 ) today is down -0.33 (-0.55%), and December RBOB gasoline (RBZ25 ) is up +0.0290 (+1.52%). Crude oil and gasoline prices are mixed today, with crude falling to a 2-week low....

CLZ25 : 59.69 (+0.44%)
RBZ25 : 1.9709 (+0.27%)
Crude Vol: When OPEC Talks

Energy markets pay close attention to OPEC meetings for information on output and production targets. Popular perception is that short-term price volatility is greater before and after OPEC meetings than...

CLZ25 : 59.69 (+0.44%)
What Are Wall Street Analysts' Target Price for Baker Hughes Stock?

Baker Hughes has outperformed the broader market over the past year, and analysts are highly optimistic about the stock’s prospects.

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Are Wall Street Analysts Bullish on CenterPoint Energy Stock?

CenterPoint Energy has outperformed the broader market over the past year, and analysts are cautiously optimistic about the stock’s prospects.

XLU : 88.46 (-0.44%)
CNP : 38.99 (+0.33%)
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$SPX : 6,720.32 (-1.12%)
Crude Prices Tumble as EIA Crude Inventories Build

December WTI crude oil (CLZ25 ) on Wednesday closed down -0.96 (-1.59%), and December RBOB gasoline (RBZ25 ) closed down -0.0135 (-0.70%). Crude oil and gasoline prices gave up an early advance on Wednesday...

CLZ25 : 59.69 (+0.44%)
RBZ25 : 1.9709 (+0.27%)
DXY00 : 99.751 (+0.02%)
Nat-Gas Prices Fall on Ramped-Up US Production and a Mixed Weather Forecast

December Nymex natural gas (NGZ25 ) on Wednesday closed down -0.111 (-2.56%). Dec nat-gas prices settled lower on Wednesday, due to ramped-up US nat-gas production and a mixed weather forecast. On Tuesday,...

NGZ25 : 4.394 (+0.85%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 87.99
2nd Resistance Point 87.60
1st Resistance Point 87.01
Last Price 86.41s
1st Support Level 86.03
2nd Support Level 85.64
3rd Support Level 85.05

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52-Week High 90.22
Last Price 86.41s
Fibonacci 61.8% 83.26
Fibonacci 50% 81.10
Fibonacci 38.2% 78.95
52-Week Low 71.99

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