Skip to main content

March Brent hits new interim low ahead of expiry

Yesterday the price of Brent crude for March delivery matched the low it set on Monday, at $76.30. It later settled above that low on the NYMEX exchange, down $0.91, at $76.58. This morning the price has just now fallen below $76.30 and looks like it might fall further given it has taken out what might have been a double bottom on the daily charts. However, a caveat to anything that transpires from here on today; the contract will expire today and that is something to consider, because it will roll into the April contract. That said, because the Brent market is in backwardation, the April price is lower as well. Brent for March delivery is right now at $76.29 per barrel 
 

Ready to Get Started?

Start here. Join over 3M Libertex users around the world!