crude oil price Today as on 3rd July, 2025
crude oil price trends: Brent oil futures prices for Sep delivery moving 14 cents or 0.2 pct down to $68.97 a barrel on London based ICE Futures Europe exchange while WTI oil August futures opened 16 cents or 0.22 pct down to $67.3 a barrel on NYMEX on Thursday morning durng Asian hours. Both the benchmarks rose around 3 pct during yesterday’s session.
Fundamental Analysis: Supply side fundamentals continued to be on headlines for crude markets. Iran restricting U.N nuclear watchdog and trade deal between U.S Vietnam triggered oil prices up while surprise build in U.S stocks capped the upside momentum. I strongly feel that Markets already priced in geo-political risk premium though sentiment was ignited ME upon Iran denying coperation with IAEA. U.S job numbers and Fed int rate revision due this week.
Technical Analysis: Brent RSI indicator signaled neutral with upside potential move while price curve just above EMA indicating short term strength. MACD turning bullish. WTI RSI indicator approaching overbought zone while price holding above EMA signalled near term bullish trend. MACD showing positive momentum for WTI futures.
