Crude oil price today as on 20th November, 2024.
Brent oil futures prices for Jan delivery opened 36 cents or 0.5 pct down at $72.95 a barrel on London based ICE Futures Europe exchange. WTI oil Dec futures prices are moving flat at $69.23 a barrel on NYMEX on Wednesday morning during Asian hours. Both the benchmarks sank around 3.5 pct during last two sessions. Brent traded at a premium of $3.92 to WTI during the session.
Crude benchmark price index curves demonstrated upside momentum during last two sessions. Renewed build up in tension between Russia and Ukraine fanned supply disruption worries, lent support to oil complex. Signs of Chinese growing imports also compounded bullish sentiment in the market. Positive U.S product weekly numbers keep supporting oil prices though crude stocks reported to be piled up last week. Speculators rebuilding positions is also accelerating and amplifying upward momentum in crude markets. EIA confirmations due later today followed by rig numbers. Simmering tensions between Moscow and Kyiv is in focus this week. WTI dec futures set to expire tomorrow.
