Crude oil price today as on 31st Jan, 2025.
Brent oil March futures are trading 1 pct up at $76.32 a barrel on London based ICE Futures Europe exchange. WTI oil futures for March delivery rose around 67 cents or 1 pct at $73.29 a barrel on Friday morning during Asian hours. Both Benchmark flat prices little changed to close up last night. Brent premium widened to $4.14 over WTI during the session.
Crude oil price index curves drifted up today after sloping downwards from the early week. Although traders priced in the factor of ‘U.S proposed tariffs over Mexico and Canada’, Markets are clouded with tension as the deadline is approaching. Bearish Weekly inventory numbers exacerbated demand worries. OPEC+ ministerial scheduled meeting is in focus now. Narratives are suggesting that producer’s group may opt to open spigots from April while not to prefer price war with U.S.. Institutional data over market positioning is awaited later today. Rig numbers are due. Crude markets are set to close the week in losses.
