Crude oil price today as on 5th March, 2025
Crude Oil Flat Price Trends Today
Crude oil Brent futures prices for May trading down at $71.04 a barrel on Tuesday morning hours. WTI Futures prices for April delivery inched down at $67.82 a barrel during Asian hours today at the time of reporting. Both the benchmarks flat futures closed below 1 pct down to a multi month’s lows last night.
Brent WTI Spreads
Brent WTI spread is the difference in Brent crude oil spot price and WTI crude oil spot price. Brent spread over WTI narrowed down to $2.78 a barrel during the session.
Crude Oil Price Fundamental Analysis
Trade Tariffs and counter tariffs across the U.S market continue to fan demand fears out of expected gloomy economic outlook. Opening taps by producer’s council painting political picture to deal with Trump. Cooling off political tensions between Russia and Ukraine after Zelensky regretted last week’s extraordinary Oval office clash with trump.
Crude Inventory Data Analysis
API weekly estimations revealed that U.S crude stocks fell by 1.46 Mb inthe week ended Feb 28. EIA will confirm numbers later today. consensus is on drawings.
Crude Oil Technical Analysis
Negative fundamentals fueled pessimism across the market that makes speculators cautious. expected increasing supplies and prospectus of dent in demand outlook pulling back investors.
Srinivas Chowdary Sunkara comments on crude oil price movement
Bear fest continues. EIA numbers may spur some volatility.
