crude oil price today as on 11th July, 2024.
Crude oil price today moving in green zone. Brent oil futures for Sep delivery rose 31 cents or 0.364 pct to $85.39 a barrel on London based ICE Futures Europe exchange. WTI oil August futures prices moving up 23 cents or 0.28 pct to $82.33 a barrel on NYMEX today at the time of reporting. Both the benchmarks closed up yesterday on a positive sentiment ignited by strong demand outlook.
Crude oil price futures curves demonstrated upside momentum for last two sessions after falling for 3 previous sessions. API numbers followed by EIA confirmations of U.S crude stocks of 3.4Mbpd with falling gasoline stocks of 2Mbpd last week. Both crude and product stock numbers painted positive seasonal demand outlook. OPEC reaffirmed relatively strong demand outlook for 2024 and 2025 as per report. U.S inflation data , CPI data and PPI data are due later this week. IEA monthly numbers may spur some volatility this week. Geo-political factor remains kay factor, getting watched by market participants.
