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Crude Oil Brent F Jun '24 (QAM24)

87.89s +0.03 (+0.03%) 05/01/24 [NYMEX]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Wed, May 1st, 2024
Day Low
87.89
Day High
87.89
Open 0.00
Previous Close 87.86 87.86
Volume 0 0
Open Interest 0 0
Stochastic %K 35.37% 35.37%
Weighted Alpha +21.22 +21.22
5-Day Change -0.13 (-0.15%) -0.13 (-0.15%)
52-Week Range 69.54 - 92.18 69.54 - 92.18
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Crude Oil Brent (F) Futures Market News and Commentary

Crude Oil Prices Plunge on Energy Demand Concerns and Rising OPEC+ Production

May WTI crude oil (CLK25) Thursday closed down -4.76 (-6.64%), and May RBOB gasoline (RBK25) closed down -0.1667 (-7.15%).

Crude oil and gasoline prices plunged to 3-week lows on Thursday due to concern that President Trump’s harsher-than-expected reciprocal tariffs would ignite a trade war that derails the global economy and energy demand.  Crude also fell as Thursday’s sell-off in the S&P 500 to a 6-1/2 month low undercut confidence in the economic outlook and energy demand.  Losses in crude accelerated Thursday after OPEC+ said it would increase crude production faster than previously announced.  Crude prices plummeted Thursday despite a slide in the dollar index (DXY00) to a 6-month low.  

Thursday’s US economic news was mostly weaker than expected and was bearish for energy demand and crude prices.  Weekly continuing claims rose +56,000 to a 3-1/3 year high of 1.903 million, above expectations of 1.870 million, showing it has become more difficult for out-of-work pe... 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
$5,900/5,364
First Notice Date
04/30/24
Expiration Date
05/01/24 (expired)

Seasonal Chart

Crude Oil Brent F Jun '24
Average Price Chart for 5 Prior F Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
85.79 +2.45%
on 04/22/24
Period Open: 87.42
92.18 -4.65%
on 04/12/24
+0.47 (+0.54%)
since 04/01/24
3-Month
76.22 +15.31%
on 02/05/24
Period Open: 78.11
92.18 -4.65%
on 04/12/24
+9.78 (+12.52%)
since 02/01/24
52-Week
69.54 +26.39%
on 05/04/23
Period Open: 75.08
92.18 -4.65%
on 04/12/24
+12.81 (+17.06%)
since 05/01/23

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Most Recent Stories

More News
Oil Prices Under Pressure: Tariffs, Economic Slowdown, and OPEC's Balancing Act

Recently, oil prices have been consistently falling. This is because global demand is expected to decline and worries about the economy as a whole are growing. While oil prices have historically been affected...

Cooler US Weather Forecasts Boost Nat-Gas Prices

May Nymex natural gas (NGK25 ) on Thursday closed up +0.083 (+2.05%). May nat-gas prices settled higher on Thursday after weather forecasts for the northern US shifted colder, which could boost heating...

NGK25 : 4.115 (+1.48%)
Crude Oil Prices Plunge on Energy Demand Concerns and Rising OPEC+ Production

May WTI crude oil (CLK25 ) Thursday closed down -4.76 (-6.64%), and May RBOB gasoline (RBK25 ) closed down -0.1667 (-7.15%). Crude oil and gasoline prices plunged to 3-week lows on Thursday due to concern...

CLK25 : 66.70 (-6.99%)
RBK25 : 2.1578 (-7.43%)
DXY00 : 102.136 (-1.61%)
Crude Prices Plummet on Energy Demand Concerns and Rising OPEC+ Production

May WTI crude oil (CLK25 ) today is down -5.34 (-7.45%), and May RBOB gasoline (RBK25 ) is down +0.1820 (-7.80%). Crude oil and gasoline prices today plunged to 3-week lows on concern that President Trump’s...

CLK25 : 66.70 (-6.99%)
RBK25 : 2.1578 (-7.43%)
WTI and Brent Oil Rise On ‘Liberation Day’, Fall Over 2% in After Hours Trading

The May WTI (CLK25 ) contract settled at 71.71 (+0.51) [+0.72%] , high of 72.28, low of 70.59. Spot price is 71.22 (-0.25), open interest for CLK25 is 307,027. CLK25 settled above its 5 day (70.83), above...

QAM25 : 69.95 (-6.67%)
CLK25 : 66.70 (-6.99%)
Crude Prices Push Higher on Strength in US Economic Reports

May WTI crude oil (CLK25 ) Wednesday closed up +0.51 (+0.72%), and May RBOB gasoline (RBK25 ) closed up +0.0285 (+1.24%). Crude oil and gasoline prices posted moderate gains Wednesday, with gasoline climbing...

CLK25 : 66.70 (-6.99%)
RBK25 : 2.1578 (-7.43%)
DXY00 : 102.136 (-1.61%)
Nat-Gas Prices Climb as US Weather Forecasts Cool

May Nymex natural gas (NGK25 ) on Wednesday closed up +0.104 (+2.63%). May nat-gas prices pushed higher Wednesday as US weather forecasts shifted colder for early April, which could boost heating demand...

NGK25 : 4.115 (+1.48%)
Crude Gains on Signs of US Economic Strength

May WTI crude oil (CLK25 ) today is up +0.25 (+0.35%), and May RBOB gasoline (RBK25 ) is up +0.0133 (+0.58%). Crude oil and gasoline prices today are moderately higher, with gasoline posting a 7-month...

CLK25 : 66.70 (-6.99%)
RBK25 : 2.1578 (-7.43%)
Crude Erases Early Gains on Energy Demand Concerns

May WTI crude oil (CLK25 ) Tuesday closed down -0.28 (-0.39%), and May RBOB gasoline (RBK25 ) closed up +0.0118 (+0.52%). Crude oil and gasoline prices on Tuesday settled mixed, with gasoline posting a...

CLK25 : 66.70 (-6.99%)
RBK25 : 2.1578 (-7.43%)
Nat-Gas Prices Sink on Forecasts for Warmer US Temps

May Nymex natural gas (NGK25 ) on Tuesday closed down -0.168 (-4.08%). May nat-gas prices retreated Tuesday after US weather forecasts trended warmer for the first half of April, which will reduce heating...

NGK25 : 4.115 (+1.48%)
Corn Fall on Wednesday as Liberation Day Tariffs Announced

Corn futures closed the midweek session with contracts fractionally lower in some new crop months to as much 4 cents in the red for nearbys. The CmdtyView national average Cash Corn price was down 3 3/4...

ZCZ25 : 447-4s (-0.28%)
ZCPAUS.CM : 4.2719 (-0.05%)
ZCPZ25US.CM : 4.1273 (-0.37%)
ZCK25 : 457-4s (-0.05%)
ZCN25 : 465-4s (+0.05%)
Soybeans Slip Lower on Wednesday, with Reciprocal Tariffs Announced

Soybeans pulled off the lows on Wednesday, but still closed in the red, down 2 to 5 cents. CmdtyView’s national front month Cash Bean price was down 5 cents at $9.73. Soymeal futures were down $3.20...

ZSPX25US.CM : 9.5393 (-2.08%)
ZLK25 : 47.06s (-2.97%)
ZMK25 : 288.0s (+0.28%)
ZSPAUS.CM : 9.5513 (-1.83%)
ZSK25 : 1011-4s (-1.75%)
ZSX25 : 1017-0s (-1.95%)
ZSN25 : 1026-2s (-1.79%)
Pure Hedge - Livestock and Grain

New Seasonal/Contract Highs for the Fats - Now Can It Break. Soybean Oil Making New Contract Highs as Well.

Grain Spreads: Funds Potentially Record Short Meal

Over 100K Net Short Possible

Corn Off Early Lows at Midday

Corn futures are weaker on Wednesday’s midday, with contracts down 1 to 4 ¼ cents lower. Futures are off the early lows. The CmdtyView national average Cash Corn price is down 4 1/4 cents on the day...

ZCZ25 : 447-4s (-0.28%)
ZCPAUS.CM : 4.2719 (-0.05%)
ZCPZ25US.CM : 4.1273 (-0.37%)
ZCK25 : 457-4s (-0.05%)
ZCN25 : 465-4s (+0.05%)
Soybeans Still Weaker on Wednesday

Soybeans are trading with midday weakness on Wednesday, as contract are down 2 to 6 cents. CmdtyView’s national front month Cash Bean price is down 6 1/4 cents at $9.72 ¾. Soymeal futures are down$4.50/ton,...

ZSPX25US.CM : 9.5393 (-2.08%)
ZLK25 : 47.06s (-2.97%)
ZMK25 : 288.0s (+0.28%)
ZSPAUS.CM : 9.5513 (-1.83%)
ZSK25 : 1011-4s (-1.75%)
ZSX25 : 1017-0s (-1.95%)
ZSN25 : 1026-2s (-1.79%)
Wheat Mixed at Midday

Wheat is trading with mixed action on Wednesday. Chicago SRW futures are posting midday losses of 1 to 2 cents. Kansas City HRW contracts are trading with 3 to 5 cent gains so far. MPLS spring wheat is...

KEN25 : 580-6s (+0.17%)
MWK25 : 591-2s (-0.21%)
KEK25 : 569-0s (+0.09%)
ZWK25 : 536-0s (-0.60%)
ZWN25 : 550-0s (-0.50%)
Corn Falling Ahead of Liberation Day Tariffs

Corn price action is starting off the Wednesday session with contracts down 4 ½ to 7 cents lower, as President Trump is set to roll out tariffs on what he has labeled Liberation Day. Futures started off...

ZCZ25 : 447-4s (-0.28%)
ZCPAUS.CM : 4.2719 (-0.05%)
ZCPZ25US.CM : 4.1273 (-0.37%)
ZCK25 : 457-4s (-0.05%)
ZCN25 : 465-4s (+0.05%)
Soybeans Slipping Back Lower on Wednesday Morning

Soybeans are starting out Wednesday trade with contracts down 3 to 4 cents across most contracts. The market rallied hard on Tuesday, following the bean oil gains. Contracts were up 19 to 22 cents at the...

ZSPX25US.CM : 9.5393 (-2.08%)
ZLK25 : 47.06s (-2.97%)
ZMK25 : 288.0s (+0.28%)
ZSPAUS.CM : 9.5513 (-1.83%)
ZSK25 : 1011-4s (-1.75%)
ZSX25 : 1017-0s (-1.95%)
ZSN25 : 1026-2s (-1.79%)
Wheat Slipping Back Lower on Wednesday Morning

The wheat complex is showing mostly lower trade on Wednesday morning across the three exchanges. Wheat held gains into Tuesday’s close, as contracts were following up the Monday strength on the acreage...

KEN25 : 580-6s (+0.17%)
MWK25 : 591-2s (-0.21%)
KEK25 : 569-0s (+0.09%)
ZWK25 : 536-0s (-0.60%)
ZWN25 : 550-0s (-0.50%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 87.89
2nd Resistance Point 87.89
1st Resistance Point 87.89
Last Price 87.89s
1st Support Level 87.89
2nd Support Level 87.89
3rd Support Level 87.89

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52-Week High 92.18
Last Price 87.89s
Fibonacci 61.8% 83.53
Fibonacci 50% 80.86
Fibonacci 38.2% 78.19
52-Week Low 69.54

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