Crude oil price today as on 9th October, 2024
Brent oil futures for Dec rose 64 cents or 0.829 pct to $77.82 a barrel on London based ICE futures Europe exchange. WTI oil Nov futures edged up 53 cents or 0.72 pct to $74.1 a barrel on NYMEX today during Asian hours at the time of reporting. Both the benchmarks closed down yesterday.
The world crude oil price benchmark index curves tilted towards bearish zone on profit taking by traders. Crude oil markets are twirling in sentiment between rumors and reality. Middle East headlines are moving like pendulum between ceasefire and escalation of tensions. Turning to data, U.S crude stocks piled up wile product stocks are drawn during the last week as per the report. On the technicals front, portfolio managers extreme bearish positioning triggered by expected supply disruptions in the short term. Negative sentiment of sluggish demand outlook indicated by U.S stock build up and weak factory numbers across is weighing on oil complex.
