Crude oil price today as on 12th March, 2025
Crude Oil Flat Price Trends Today
Crude oil Brent futures prices for May delivery edged up at $69.67 a barrel on Wednesday morning hours. WTI Futures prices for April delivery inched up to trade at $66.36 a barrel during Asian hours today at the time of reporting. Both the benchmarks flat futures closed below 0.5 pct up last night.
Brent WTI Spreads
Brent WTI spread is the difference in Brent crude oil spot price and WTI crude oil spot price. Brent spread over WTI remains flat at $3.31 a barrel during the session.
Crude Oil Price Fundamental Analysis
Sell off in U.S financial markets spilled over fears in crude markets. Week U.S greenback makes oil cheap that lent support to crude complex. Gloomy economic outlook likely to dent oil demand, Keep weigh on oil prices. Tariffs, delay of tariffs, OPEC moves towards opening taps and economic growth are the talks of the town.
Crude Inventory Data Analysis
API weekly estimations revealed that U.S crude stocks rose by 4.2 Mb during the week ended March 7th. EIA will confirm numbers later today. consensus is on build. Inflation data is due.
Crude Oil Technical Analysis
Fund managers preferred to sell for six consecutive weeks. Hedge funds and Money mangers left the market. Speculator sell off last week painted extreme bearish picture in crude markets. Investors are more worried over transformation of optimism at the beginning of the year into extreme pessimism in the current market.
Srinivas Chowdary Sunkara comments on crude oil price movement
Oil market sentiment likely to stay contained despite of fragile sentiment across.
