crude oil price Today as on 13th June, 2025
crude oil price trends: Brent oil futures for August delivery opened .851 pct up at $69.95 a barrel on London based ICE Futures Europe exchange. WTI oil July futures prices are inched up 38 cents or 0.54 pct to $68.52 a barrel on NYMEX on Friday morning during early Asian hours. Both the benchmarks closed below 1 pct down last night after rising above 4 pct in the previous session.
Fundamental Analysis: Widening tensions in ME region continues to spill over supply disruption worries across the market. The absolute nightmare for oil industry is the possible closure of the ‘Straight of Hormuz’ by Iran in case of esclation of military activity in the region. The blockage of this narrow choke point could block 20 pct of global oil flow that inturn inflate the oil prices abnormally. Apart, There is no significant change in Fundamentals as of now. As per analysts, Short investors prefer to stay apart from some profit booking during yesterday’s session.
Technical Analysis: Benchmark index curves turned down on selling pressure. WTI RSI is low and near oversold territory suggesting bearish pressure. MACD is showing weakness with a negative histogram, Price is hugging the EMA, Showing potential for either breakdown or consolidation for WTI futures. Turning to Brent futures, RSI above 50, over bought territory, possible pullback or correction ahead. Brent price moving well above EMA, indicating uptrend, May support temparory gains. keep Watching fundamentals such as geo-politics and U.S economic data.
