Crude oil price today as on 3rd Jan, 2025.
Brent oil March futures prices slipped 36 cents or 0.47 pct to $75.57 a barrel on London based ICE futures Europe exchange. WTI oil futures prices for Feb delivery inched up 17 cents or 0.2 pct to $73.3 a barrel on NYMEX on Friday morning during Asian hours. Both the benchmarks closed up last night at their highest in more than two months.
Crude oil price index curves continued upside momentum on positive sentiment ignited by traders coming back to market after holiday season. Fundamentally, Bullish mood in oil markets triggered by hopes that the countries across the world may increase policy support to economic growth that would lift fuel demand. Factory activity in Asia and Europe and the U.S ended 2024 with a soft note amid growing trade risks from Trump-2 policies. The Dec PMI in Asian were a mixed bag with increasing economic growth in Asia seems to be fragile. Turning to weekly data, U.S stocks fell less than expected in U.S last week. All eyes on weather reports that may spur some demand for distillates going ahead. Traders eye on interest rates. Crude markets are set to close this week with weekly gains.
