crude oil price Today as on 20th June, 2025
crude oil price trends: Brent oil August Futures are moving little up at $76.88 a barrel on London based ICE Futures Europe exchange while WTI oil futures for July delivery are trading at $73.6 a barrel on NYMEX on Friday morning during early Asian hours. Brent settled up $2.15 or 2.8 pct to $78.85 a barrel, Its highest close since Jan, 2022 last night. WTi unchanged amid low volumes due to U.S federal holiday. Brend spread over wti widened to $3.71 a barrel during yesterday’s session.
Fundamental Analysis: Iran – Iraq war remians in headlines. Markets are skeptical towards U.S direct involvement in fight, That may further widens tensions in the region. Traders are at the edge of moving either side based on U.S decision. Apart, Oil markets are downplayng the geo-politics factor as of now. OPEC group ready to fill up tanks as agreed. Any sudden price surge would be temporary. Speculators positioning data awaited later today. U.S rig data is scheduled at the end of the week.
Technical Analysis: Turning to technical indicators, Though Brent futures EMA and MACD curves signalling bulish trend, Resistance is possible. Short term bull back likely due to RSI curve in over bought zone. WTI price is trading above EMA suggesting short term bullish momentum. Histogram shows slight bearish pressure, MACD line is above the signal line indicating possible consolidation or slight bull back before a further move. RSI near overbought zone. Though momentum is strong but may face resistance.
