Crude oil price today as on 27th December, 2024.
Brent oil Feb futures prices trading down 52 cents or 0.52 pct to $72.74 a barrel on London based ICE Futures Europe exchange. WTI oil futures prices for Feb delivery inched down at $69.54 a barrel on NYMEX on Friday morning Asian hours. Both the benchmarks settled down below 1 pct from pre-christmas day settlement.
crude oil benchmark price index curves demonstrating bearish momentum during Christmas week into new year. On Fundamentals side, China’s additional fiscal support next year keep optimism in the market. Strong dollar continue to weigh on oil complex. Turning to weekly data, API reported draw in U.S stocks last week. EIA numbers are awaited. Consensus is on fall in crude and product inventories. Institutional data at the week end shows speculator movements. Weekly data may spur some volatility today.
