Crude oil price today as on 30th Jan, 2025.
Brent oil March futures prices slid 56 cents or 0.73 pct to $75.93 a barrel on London based ICE Futures Europe exchange. WTI oil futures for March delivery edged up 18 cents or 0.24 pct to $73.95 a barrel on NYMEX on Thursday morning during Asian hours. Flat prices of both the benchmarks closed above 1 pct up last night. Brent premium over WTI narrowed down during the session.
Crude oil price index curves are sloping downward on bearish sentiment across the market. U.S inventory data is in limelight now. EIA report showed piling up crude oil stocks last week. Aligning analysts expectations, crude inventories were built up by 3.46Mbpd last week due to low intake from refineries. U.S tariff talk keep prices in check. U.S Fed keep int rates unchanged while focusing on timing to change to boost oil demand. Putting some torch on supplies, Libya oil exports restored, still at risk due to prevailing civil war. OPEC+ Ministerial meet is scheduled on March 3rd. The focus is on increasing production from April, 25. At the outset, crude markets are expected to be choppy during near term due to uncertainty on U.S trade policies, Gloomy economic outlook in major nations that may pinch oil demand.
