crude oil price Today. 1st August 2025.

image snows brent and wti price movement

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crude oil price Today as on 1st August 2025.

crude oil price trends: Brent oil Oct futures prices are moving slightly up at $71.83 while WTI oil futures prices for Sep delivery inched up to $69.36 a barrel on Friday morning during Asian hours. Both the benchmarks fell around 1 pct to close down last night.

Fundamental Analysis: Fundamentals seems to be not supportive to oil index as on today. Tariffs, Extensions and deadlines are news that are spilling over fears across the market. Tariffs are negative to oil demand. U.S inflation is rocketing up as U.S tariffs boosted prices of imported goods. Weekly data from eia reported surprise build in crude stocks with a bigger than expected draw in gasolines supported by seasonal demand that resulted in neutral impact on the oil market. U.S production nos rose to a record 13.49 Mbpd in May with increased U.S production by 24000 bpd.

Brent Technical Analysis: Brent RSI@61 signalled slightly bullish momentum but holds below overbought threshold. ADX indicates a weak trend environment expecting choppy price action. Negative histogram suggest bearish momentum is still slightly dominating but could be close to neutral cross over. cautious trading is advised.

WTI OIL Technical Analysis: RSI at 34 – 35 Indicating near oversold with potentially bottoming. ADX suggesting strong bearish trend while MACD is widening negative momentum.

MCX Crude oil Technical Analysis: Intraday outlook singalled ‘BUY’ call as both RSI and MACD across timeframes indicating potential upside. Volumes are rising signaling bullish momentum.

Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com

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