crude oil price Today as on 12th July, 2025
crude oil price trends: Brent oil Sep futures prices went up 2.5 pct to $70.36 a barrel on London based ICE Futures Europe exchange while WTI oil August futures gained $1.88 or 2.8 pct to $68.45 a barrrel on NYMEX last night. Both the benchmarks logged in 2 – 3 pct weekly gains. Brent prompt month futures are trading in premium over later month that indicates backwardation structure which resemples supply tightness in the market.
Weekly Analysis: Oil prices are largely supported with fundamentals this week. Tariffs talks, supply – demand outlook and monthly numbers are in the headlines duirng the week. Crude markets opened in positive mood with Trump tariff news in the beginning of the week. Though weekly news spurred some momentum in the middle of the week, Monthly numbers sang bearish tunes. Political news lent support to oil complex. On the supply side, Saudi shipped a biggest consignment to China that signalled demand recovery in Asia. Turning to monthly reports, The Energy watch dog, IEA reported sluggish oil demand, Expecting to rise in slow pace. The report also mentioned that supplies surged due to OPEC turning up taps. Refinery through put climbed to support summer demand. Happy week end.
