crude oil price Today as on 30th June, 2025
crude oil price trends: Brent oil futures prices for August delivery slipped 31 cents or 0.5 pct to $66.49 a barrel on London based ICE Futures Europe exchange. WTI August futures prices are moving 69 cents or 1 pct down at $64.83 a barrel on NYMEX at the time of reporting today. Both the benchmarks logged in weekly loss on Friday. Brent August futures are set to expire today. The most active Sep futures are trading with narrow downside momentum. Brent spread over WTI narrowed down to $2.25 a barrel during the last session.
Fundamental Analysis: Bearish supply fundamentals are driving oil prices down. Pinching oil demand also fanned worries across the market. Receding war clouds between Iran and Iraq shrugged off geopolitical risk premium. OPEC meeting on July 6th is in focus. Another round of increase in production is predicted. Both the benchmarks set for another monthly gains. Weekly numbers are due in the middle of the week. Spculators data painted bearish picture as the longs left the market and net length is narrowed down during the last week.
Technical Analysis: Crude benchmark indices demonstrating downside momentum with bearish bias. WTI exhibiting stronger selling pressure. Day trades should watch for rebounds at key support levels, But rallies are likely to be capped.
