Crude oil price today as on 27th March, 2025
Crude Oil Flat Price Trends Today
Crude oil Brent futures prices for May delivery are edged down at $72.90 a barrel while WTI Futures prices for May delivery moving flat at $69.49 a barrel on Thursday. Both the world benchmarks closed up yesterday night.
Spreads
Brent WTI spread is the difference in Brent crude oil spot price and WTI crude oil spot price. Brent spread over WTI widened to $4.14 a barrel during the session.
Crude Oil Price Fundamental Analysis
Fundamentals remain unchanged in oil markets. Trump tariffs and U.S trade policy are the main drivers of oil. Futures prices moving flat amid prevailing supply concerns in the market. Falling financial markets over Tariffs over Auto could not spill over fears in crude market, However, Oil red it positively as it does not aid major swift to new and fuel efficient cars.
Crude Inventory Data Analysis
EIA report for the week ending March 21, 2025, indicates a 3.3 million barrel decrease in crude oil inventories, totaling 433.6 million barrels. Refinery inputs averaged 16.6 million barrels per day, with utilization at 87% capacity. Gasoline stocks declined by 1.4 million barrels to 239.1 million barrels, while distillate inventories fell by 420,000 barrels to 114.4 million barrels. U.S. crude oil imports averaged 6.6 million barrels per day, marking an increase of 665,000 barrels from the previous week.
Crude Oil Technical Analysis
Brent is moving near the $74 mark. Technical indicator suggest a potential challenge at the $71.35 resistance level, with a slight intraday advance positioning prices to test this key threshold.
Srinivas Chowdary Sunkara comments on crude oil price movement
Medium term outlook indicates a falling trend channel, Suggesting possible negative development ahead. Traders should monitor these levels closely, as breaching the resistance could signal further gains, while failure may lead to a retracement.
