Brent Jan futures prices little changed at $75.24 a barrel on London based ICE Futures Europe Exchange. WTi oil futures prices for Jan delivery moving at $71.28 a barrel on NYMEX on Monday morning during Asian hours. Both the benchmarks closed up on Friday, registering weekly gains. Brent premium over WTI narrowed down to $3.93 a barrel during Friday session.

Crude oil price curves moving flat today after demonstrating upside momentum during last week. Ongoing rift between Russia and Ukraine heightened Geo-political tensions that triggered bullish momentum in the crude markets during early last week. Though weekly numbers sent mixed signals, Traders continued to focus on widening conflict. Boosting oil demand from both China and India is also a factor that lent support to oil complex. Strong green back and gloomy economic outlook from Euro zone capped the rally last week. Turning to technicals, Portfolio managers increased their net length in Brent futures and options. Longs entered into brent market while shorts booked profits as per institutional reports published.

During this week, Markets will continue to watch geo-politics, OPEC decision to open the spigots and financial data from Europe.