Crude oil price today as on 19th March, 2025
Crude Oil Flat Price Trends Today
Crude oil Brent futures prices for May delivery are moving at $70.4 a barrel while WTI Futures prices for April delivery moving flat at $66.58 a barrel on Wednesday morning hours. Both the world benchmarks settled down around 1 pct last night.
Spreads
Brent WTI spread is the difference in Brent crude oil spot price and WTI crude oil spot price. Brent spread over WTI widened to $3.66 a barrel during the session.
Crude Oil Price Fundamental Analysis
Geo-politics take the control over oil prices this week. Russia agreement over Trump proposal of temporary ceasefire for 30 days over each other’s energy facilities pushed oil prices down yesterday. Prospectus of ceasefire between Moscow and Kyiv lead to an easing of sanctions in turn more supplies from Russian facilities. Recession fears over Tariffs, piling up crude stocks keep add to negatives of oil. Tensions prevailed at Red sea waters.
Crude Inventory Data Analysis
U.S weekly stock report pained mixed picture. U.S crude stocks piled up by 4.59 Mb while gasoline and distillates stocks drawn by 1.71Mb and 2.15Mb respectively during the last week as per API report. EIA confirmation is due later today. consensus is on draws.
Crude Oil Technical Analysis
Investors are becoming increasingly bearish over petroleum futures and options. Hedge funds and other money managers sold equitant of 33 mb in the six most important petroleum futures and options over the week ending March 11th
Srinivas Chowdary Sunkara comments on crude oil price movement
Range bound trades are expected.
