Crude Oil Price today as on 14th May, 2025
Crude oil Brent futures for July delivery inched down .2 pct to $65.99 on London based ICE Futures Europe exchange. WTI oil futures for June delivery dipped 0.1 pct to trade at $63.59 a barrel on NYMEX on Wednesday morning during Asian hours. Both the benchmarks closed up near 3 pct last night.
Crude oil futures benchmark price index curves demonstrating upside momentum for the straight 4th session after a temporary relief from U.S – China trade tariffs fanned bullish sentiment across the markets. Turning to reports, OPEC MOR reported that global oil demand set to rise by 1.3 Mbpd in 2025 led by Asia while OPEC+ boosted output by 960000 pbd between April and May, shaped by U.S influence. The report highlighted KSA strategy of widening market share amid non-compliance. Other numbers like U.S labor data and Fed moves over interest are in focus. Turning to technicals, Oil traders are continuing to ramp up long-shot options bets that brent crude can rally towards $95 a barrel over the coming months. On the supply side, crude stocks are plummeting while products stocks are getting tight over the period. Bulls fest continues…
