crude oil price Today as on 19th June, 2025
crude oil price trends: Brent oil futures prices for August delivery moving unchanged at $76.62 on London based ICE Futures Europe exchange while WTI oil July futures are trading at $73.43 a barrel on NYMEX on Thursday Morning during Asian hours. Both the benchmarks closed higher after a 2 pct dip during yesterday’s session.
Fundamental Analysis: Fundamentals largely unchanged on Wednesday. Oil traders started weighing the possibilities of U.S joining the war and its impact on oil prices. Oil markets entered into wait and watch mode. The biggest fear existing in the markets is ‘ The possibility of Straight of Hormuz closure’. On the data side, EIA reported that U.S crude stocks fell 11.5 Mbpd to 420.9 Mb last week, Trouncing back analysts expected 1.8Mb. Federal Reserve held interest rates steady.
Technical Analysis: Oil index curves turned down yesterday. with reference to technical indicators, Both WTI and Brent are trading slightly above their EMAs with neutral to bullish RSI. MACD suggests Brent has stronger upward momentum than WTI. Expecting sideways to slightly bullish intra day movment unless a breakout occurs.
