Crude oil price today as on 24th September, 2024.
Brent oil futures for November delivery rose $1.78 or 2.409 pct to $75.68 a barrel on London based ICE Futures Europe exchange. WTI oil futures prices to be delivered in November went up $1.78 or 2.529% to $72.15 a barrel on NYMEX at the time of reporting. Brent premium over WTI widened to $3.53 a barrel during yesterday’s session.
The world crude benchmark futures curves demonstrating upside momentum on potential stimulus to China’s economy that may boost oil demand. Cut in Fed interest rate also another prevailing bullish factor in the market as of now. Broadening conflict in Middle East also lending support to oil complex. Markets believe that crude markets are desperately waiting for easing measures from China’s authorities to boost oil demand. API numbers are due later today followed by EIA confirmations.
