Crude oil price today as on 29th April, 2025
Brent oil futures prices for June delivery slipped 1.5 pct adding $1.02 down to trade at $63.77 a barrel on London based ICE Futures Europe exchange. WTI oil June futures prices going down 63 cents or 1 pct to $61.42 a barrel on NYMEX today at the time of reporting. Both the benchmarks closed 1 pct down last night. Brent premium widened to $3.81 over WTI during the session.
Crude oil price index curves are sloping down, adding to previous session’s loss over lingering demand worries compounding bearish sentiment across the crude market. Fundamentals remain unchanged as tariff war stroked trade fears, sparked demand worries around the world markets. Flooding of Hefty supplies from supplier’s council are expected to keep weigh on oil complex. Institutional forecast numbers fanned bearish signals after cutting brent prices amid elevated trade tension. Turning to weekly numbers, U.S stock piles are expected to piled up. Industry group, API will publish estimates of U.S inventories later today followed by eia confirmations. Putting some light on technicals, Speculators widening long positions should keep floor to oil prices. U.S – China trade negotiations are in spot light. Markets are in wait and watch mode.
