Crude Oil Price today as on 15th May, 2025
Brent oil futures prices for July delivery edged down 55 cents or 0.83 pct to $65.58 a barrel on London based ICE Futures Europe exchange while WTI oil June futures dipped 84 cents or 1.319 pct to $62.83 a barrel on NYMEX during Asian hours on Thursday morning. Both the benchmarks traded at their highest in the two weeks, closed down last night.
Crude benchmark futures price index curves slipped down after sagging up in the beginning of the week. Fundamentals remains unchanged while monthly numbers could not spur volatility. Trouncing analysts expectations, U.S crude stocks were reported massive built up. Turning to EIA data, U.S crude stocks rose by 3.5Mbpd due to dip imports. product stocks also drawn due to lower refinery operations last week. Rebounded U.S greenback also weigh on oil complex. IEA numbers in focus. Increasing supplies from OPEC+ is the other prevailing bearish factor in the market. crude may close this week in rangebound.
