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Crude Oil Brent Oct '22 (CBV22)

96.49s -2.82 (-2.84%) 08/31/22 [ICE/EU]
N/A x N/A N/A x N/A
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Crude Oil Brent Prices for Wed, Aug 31st, 2022
Find the latest Crude Oil Brent prices and Crude Oil Brent futures quotes for all active contracts below.
Latest futures price quotes as of Thu, Jan 30th, 2025.
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Crude Oil Brent Futures Market News and Commentary

Crude Prices Higher on Tariff Concerns

March WTI crude oil (CLH25) today is up +0.58 (+0.80%), and March RBOB gasoline (RBH25) is up +0.0162 (+0.79%).

Crude and gasoline prices today recovered from early losses and are moderately higher.  Today's weaker dollar is supportive of energy prices.  Crude also has support on concern that a possible +25% tariff on Canadian and Mexican goods starting Saturday could curb US crude supplies, with Canada and Mexico being the two largest exports of crude to the US.  Signs of weaker-than-expected global economic growth are limiting gains in crude after the US and Eurozone Q4 GDP grew at a slower-than-expected pace.  

Crude has support from expectations for the US to impose tariffs of 25% on Canadian and Mexican goods on Saturday.  More than half of US crude imports come from Canada, and Mexico is the second largest crude exporter to the US.  However, US Commerce Secretary nominee Lutnick said that tariffs could be avoided against Canada and Mexico if they take action on ill... Read more

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