Crude oil price today as on 30th November, 2024.
Brent oil Jan futures settled 34 cents or 0.46 pct down to $72.94 a barrel on London based ICE Futures Europe exchange on Friday. U.S crude oil benchmark, WTI futures for Jan delivery closed $1.1 or 1.59pct down to $68 a barrel on NYMEX last night. Both the benchmarks closed the week in loss. Brent premium over WTI widened to $4.94 a barrel during the session. Brent Jan contract set to expire today, logged November month in loss.
Crude oil benchmark curves flirted towards downside in a prevailed bearish mood across the market. The bears fest continued through out the week in a thin trade. Markets opened early this week in a negative mood after markets shifted focus from Russia-Ukraine war factor to ceasefire agreement in ME. Mixed signals from weekly data could not prop up oil prices in the middle of the week. Delayed OPEC+ meet to Dec 5th is singing negative tone, Fizzled the week. Speculators reduced their net length in brent F&O as per ICE data. Longs left the market while shorts settled positions during the week. CFTC data is delayed to Monday.
