crude oil price Today as on 11th June, 2025
crude oil price trends: Brent oil futures for August delivery are trading at $66.67 a barrel on London based ICE Futures Europe exchange. WTI oil futures for July delivery are moving at $64.81 a barrel on NYMEX on Wednesday Morning during Asian hours. Both the benchmarks closed down last night. Brent traded at a premium of $1.89 over WTI during the session.
Fundamental Analysis: Markets are weighing supply and demand fundamentals. Progress in U.S-China talks, positive demand nos from China are the supporting factors existed in the market. On supply side, OPEC decision of opening spigots are outweighing demand fundamentals. Weekly data is awaited. consensus is on piling up stocks as per anaysts. EIA will confirm nos.
Technical Analysis: Brent appears to be in consolidation phase with early signs of bullish momentum building. RSI moving above 50 and the recent MACD cross over suggest potential upside movement. WTI crude shows stronger bullish momentum than Brent, with the RSI firmly above 50 and a more pronounced MACD bullish signal. The spread between Brent and WTI is within normal range. Both the benchmarks are showing similar technical patterns. watch speculators movement of profit taking nearer to resistance level. keep eye on geo-politics. look into volume confirmation.
Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice.
