Crude oil price today as on 01st May, 2025
Brent oil futures prices for July delivery inched up 28 cents or below 0.5 pct to $60.95 a barrel on London based ICE Futures Europe exchange. WTI oil futures prices for June delivery changed a little into green zone on Thursday morning during Asian hours. Both the benchmarks settled down last week and registered a biggest monthly drop since November, 2021.
Crude oil futures price index curves demonstrated significant downside momentum amid compounding bearish sentiment across the market. On the fundamentals side, The spearhead of OPEC signaled that they are unwilling to prop up market by further tightening of supplies that fanned fears of oversupply. Trade tariffs and trade war topics are in focus. Gloomy economic outlook continues to pressurize oil markets as slump in demand fears continuous to prevailed in the market. Turning to weekly data, U.S crude stocks fell by 2.7Mb to 440.4Mb in the week ending April, 25th as per eia data released. Institutional data and U.S rig numbers are awaited during the week.
