Today is the last day of trading for Brent's June contract (white), and tomorrow the July contract (blue) becomes the "prompt" price most of us see when we search "Brent crude price"
June Brent hit >$126/bbl overnight before sharply pulling back, currently around $114—with a solid chunk of final day trading to go. It wasn't destined to crash on its final day, but it's more prone to sharp jerky moves like this.
July Brent hit $114, pulled back less sharply, and is currently sitting around $110; this second-month contract is currently sitting higher than June was at the time of the May Brent contract expiry at end-March.
Both prices are important, but the June contract stops being important today and July takes us forward from here.
June Brent hit >$126/bbl overnight before sharply pulling back, currently around $114—with a solid chunk of final day trading to go. It wasn't destined to crash on its final day, but it's more prone to sharp jerky moves like this.
July Brent hit $114, pulled back less sharply, and is currently sitting around $110; this second-month contract is currently sitting higher than June was at the time of the May Brent contract expiry at end-March.
Both prices are important, but the June contract stops being important today and July takes us forward from here.