Crude oil price today as on 25th October, 2024.
Brent oil Dec futures prices are little changed 8 cents or 0.1 pct up to $74.46 a barrel on London based ICE futures Europe exchange. WTI oil futures for Dec delivery rose 44 cents or 0.627 pct to $70.63 a barrel on NYMEX today morning during Asian hours. Both the benchmarks closed down below 1 pct yesterday. Brent premium over WTI unchanged at $4.19 a barrel during yesterday’s session.
crude benchmark curves turned up today after tilted towards downside yesterday. Demand woes are prevailed in the market. Simmering regional tensions are expected to cool down amid ceasefire discussion. EIA painted bearish picture after U.S crude and gasoline stocks are piled up while distillates are drawn during last week. Oil markets are alternating between profits and losses during the week amid uncertainity and lack of clues. With the fast approaching of US elections keep investors in wait and watch mode. Stalling business activity in the Euro zone clouded the markets with gloomy economic outlook. US unemployment report is concerning factor. Rig numbers are due later today. crude markets are set to close with weekly gains.
