Crude oil price today as on 12th November, 2024.
Brent oil futures for Jan delivery is moving at $71.86 a barrel on London based ICE Futures Europe exchange while WTI oil Dec futures prices are opened in green at $68.08 a barrel on NYMEX on Tuesday Morning during Asian hours. Both the benchmark futures extended losses to close down yesterday.
crude oil benchmark futures price indices are moving flat today morning after adding to downside pressure during last two sessions. Disappointing China’s stimulus to boost oil demand and Strong dollar index continued to press oil complex. Though markets digested Trump’s victory, His promise to ‘drill, baby, drill’ took away incentive. Increased petroleum positions by portfolio managers keeping markets supported. Improving outlook for the major oil consuming economies in North America and Asia triggered buying in major petroleum futures and options during the week ending Nov 5th. Monthly numbers are awaited later today followed by weekly data. crude markets are expected to move sideways this week.
