Crude oil price today as on 18th April, 2025
Crude oil Brent futures for June delivery rose 3.2 pct or $2.11 to settle at $67.96 a barrel on London based ICE Futures Europe exchange while U.S crude oil, WTI May futures gained $2.21 or 3.54 pct to close at $64.68 a barrel on NYMEX last night. Both the benchmarks logged in weekly gains of around 5 pct, their first weekly gain in three weeks. Brent premium over WTI widened during the session.
Crude oil price index curves demonstrated upside momentum after both the benchmarks price rebounded, clawed back previous session’s losses. Optimism over U.S and Europe trade deal spilled over positive sentiment in crude markets. On the supply side, U.S sanctions over Chinese tea pot refineries to curb Iran exports elevated supply worries that lent support to oil complex. Markets logged in gains amid thin trade ahead of Easter holidays. Putting some light on OPEC+, The group said that it had received updated plans for members to rein in out put. Institutional data over speculators positions is due later today followed by U.S rig data.
