Crude oil price today as on 6th February, 2025
Crude Oil Flat Price Trends Today
Crude oil Brent futures prices for April delivery sliding down $1.59 or 2 pct to $74.61 on Thursday morning hours. WTI Futures prices for March delivery edged up 21 cents at $71.24 a barrel on Today’s Asian hours session. Both the benchmarks flat prices continued to down during previous session.
Brent WTI Spreads
Brent WTI spread is the difference in Brent crude oil spot price and WTI crude oil spot price. Brent WTI spread slightly widened to $3.58 a barrel during the last session.
Crude Oil Price Fundamental Analysis
crude oil markets are caught between demand fears and possible supply disruptions. Tariffs and Counter Tariffs between U.S and its trade partners escalated mounting signs of economic slow down across the world may dent oil demand. U.S reimposing stricter policy on Iran triggered possible potential supply disruption near future that may lent support to oil markets.
Crude Inventory Data Analysis
Crude weekly data showed piling up crude and product stocks in U.S last week. As per EIA data released yesterday, U.S refiners does not need crude right now. Due slack in product demand, Refineries are running into maintenance. Bearish weekly numbers weigh on oil complex.
Crude Oil Technical Analysis
Crude futures index curves tilted into bearish zone on thin trade. Sell off continued post tariff tensions and may find buyers after reaching support levels. It is worth to wait and watch. Speculators data is due tomorrow.
