Crude oil price today as on 28th Jan, 2025.
Brent oil March futures prices sank $2.32 or 3 pct to $76.18 a barrel on London based ICE Futures Europe exchange while U.S crude oil futures prices for March delivery continued to dive at $73.15 a barrel after plunging around 2 pct on Tuesday morning during Asian hours. crude benchmark flat prices tumbled around 2 pct last night adding to last week’s losses.
Crude oil price index reflects sustained drop in price curves followed by trade war talks. President Trump call for lower oil prices from producer’s group continued to press oil prices. Markets are watching at ‘DeepSeek’ free AI Assistant overtaking U.S based Chat GPT, Fanned fears among investors who poured money into U.S energy firms, hoping energy demand from data centers. Turning to data, Chinese depressed manufacturing data keep lid on oil prices. Market positioning data showed that Money managers raised net long U.S crude futures and options positions. Speculators widened Brent net length in the week up to Jan 21st. WTI short positions trimmed during the week. Inventory data clues may spur some volatility in the market this week.
