crude oil price Today as on 18th June, 2025
crude oil price trends: Brent oil futures prices for August delivery moving up 20 cents or 0.262 pct to $76.65 a barrel on London based ICE Futures Europe exchange while WTI oil July futures prices are sagging 26 cents or 0.355 pct up at $73.53 on Wednesday Morning trade during Asian hours. Both the benchmarks settle up more than 4 pct last night.
Fundamental Analysis: Worsening tensions over ongoing fight between Iran and Iraq continue to fuel oil prices. The conflict raged with no end in sight although significant damage is not reported so far. All eyes on red sea waters. Possibilities of the closure of ‘Straight of Hormuz’ by Iran may dirsupt world oil supplies, very likley to send oil prices soaring into three digits. IEA monthly data sang bearish tunes. The energy watch dog revised its world oil demand estimates downside by 20k bpd from last revision while supplies are predicted to go up by 2lks bpd to 1.8Mbpd. U.S weekly data is awaited later today. U.S central bank interest rate revision is under watch.
Technical Analysis: The world benchmarks price curves are demonstrating strong bullish momentum for last couple of sessions. Turning to indicators, Both WTI and Brent are showing signs of bottoming intraday with bullish bias emerging. MACD and RSI improvement signal a possible continuation of upward move. WTI likely to outperform Brent in near term due to stronger price rebound and EMA breakout. keep eye on Geo-politics and data.
