Crude oil price today as on 21st December, 2024.
Brent oil Feb futures prices rose 6 cents or 0.08 pct to $72.94 a barrel on London based ICE Futures Europe exchange. WTI oil futures prices for Feb delivery went up 8 cents or 0.12 pct to $69.46 a barrel on NYMEX last night. Both the benchmarks logged in about 2.5 pct weekly loss.
Crude oil price benchmark futures price curves turned up yesterday after markets changed mood with some positive data from China. Traders weighed Chinese Sinopec energy annual report and Fed hawkish comments. Sinpec energy annual report flagged positive demand ourtlook in 2025. Retreating U.S dollar from record highs lent support to oil complex. oil markets largely range bound this week with hawkish comments from Fed and mixed weekly numbers. Portfolio managers raised ther net length in brent futures and options during the last week. Expected big draw in U.S stocks would be triggering point along with bullish numbers from CFTC and ICE next week.
