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Brent Crude Oil Last Day Financ (BZ=F)

NY Mercantile - NY Mercantile Delayed price. Currency in USD
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86.67-0.22 (-0.25%)
As of 02:51AM EDT. Market open.
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Pre. SettlementN/A
Settlement date2024-04-01
Open86.85
Bid86.66
Last price86.89
Day's range86.63 - 86.96
Volume638
Ask86.68
  • Yahoo Finance Video

    CrownRock acquisition a 'perfect fit' for growth plan: Oxy CEO

    As CERAWeek by S&P Global — an annual global energy conference focusing on the industry's biggest goals and challenges — kicks off today, Occidental Petroleum (OXY) CEO Vicki Hollub joins Yahoo Finance's Julie Hyman to discuss the company's goals after acquiring CrownRock in December 2023. Hollub emphasizes that Occidental Petroleum's "large position" in the Delaware Basin allowed the oil giant to achieve "efficiencies" of scale while expanding to other drill sites. She further notes that CrownRock's inventory "helps to improve" Oxy's own, and this synergy helps to accelerate cash flow generation, which she describes as "an acceleration of value" for shareholders. In the near term, the company is focusing on paying down debt and eventually resume repurchasing shares. She highlights that the company has maintained "a very healthy repurchase program" due to the stock being "very undervalued." Regarding Oxy's carbon emission initiatives, Hollub stresses the company's familiarity with the gas, stating: "We know how CO2 works." She underlines Occidental Petroleum's existing infrastructure for handling carbon dioxide emissions and the "difficult process" involved in convincing sites to install carbon capture equipment. However, Hollub notes that the carbon engineering technology, which allows the extraction of carbon from the atmosphere, was "a holy grail" for Occidental. This technology empowers the company to "control our own destiny" by bypassing the need for emitters. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

  • Yahoo Finance Video

    Oil is more than a commodity, it's 'a financial asset': Strategist

    Oil prices (CL=F, BZ=F) continue their upward trajectory, with Brent Crude surpassing $86 per barrel. R.J. O'Brien Managing Director Tom Fitzpatrick joins Yahoo Finance Live to discuss the ongoing rally in oil prices. Fitzpatrick notes that oil should not only be viewed as an "industrial commodity" but also as "a financial asset." The strategist emphasizes that oil prices do not solely trade based on supply and demand dynamics: the rally's movements have been "very technical" in nature. Addressing the geopolitical tensions driving oil prices higher, Fitzpatrick believes the price moves highlight "what we are susceptible to." He notes that the way price action is already trading, another significant event could "accelerate [oil prices] to the topside." However, current events do not "rise to the significance" of 2022's oil disruption amid the Russia-Ukraine War, Fitzpatrick says. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

  • Yahoo Finance Video

    Commodities on a run: How to play Crude Oil

    Commodities are on a run with Cocoa Futures (CC=F) topping $8,000 per metric ton and Copper Futures (HG=F) hitting its highest level in almost a year. Oil prices (BZ=F, CL=F) have also been rising this week, at one point topping over $80 per barrel. Path Trading Partners Co-Founder Bob Iaccino and Blue Line Futures Chief Market Strategist Phillip Streible join Yahoo Finance to discuss how investors should position themselves within the commodity sector. Streible states that oil's rise is a simple function of supply and demand, highlighting a few demand-side drivers: "Resiliency of the US economy has helped to support demand. We've got driving season right here. Any kind of interest rate cut could really be a tailwind for the crude oil market. If you get some of this loan, some of this debt burden behind us with lower interest rates, people are gonna have more money to spend and they're probably going to do it the easiest way, which is travel. So we are starting to see 2024 demand increasing. And we could see upward revisions in '25 and 2026."  Investors may look to the futures market or to ETFs to join the oil rally, Iaccino explains: "I always advise people the thing that's 100% correlated to crude oil is crude oil. So the best place...to play that out is WTI crude (MCL=F), that's my favorite. But, for the average investor, you can look at USO, that's one of the ETFs people generally default to." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino