Crude oil price today as on 7th April, 2025
Crude Oil Flat Price Trends Today
Crude oil Brent futures prices for June delivery fell further to $63.96 a barrel while WTI Futures prices for May delivery went down to trade at $60.89 a barrel on Monday at the time of reporting. Both the world benchmarks prices slumped last week.
Spreads
Brent WTI spread is the difference in Brent crude oil spot price and WTI crude oil spot price. Brent is trading at a premium of $3.19 a barrel during the session today.
Crude Oil Price Fundamental Analysis
Escalation of trade tensions between U.S and China stoked fears of recession that would in turn trim the demand outlook is the primary sentiment existed in the market. OPEC+ ready to open taps from April also another slippery slope for oil prices. Saudi reduced oil prices for Asian buyers signaled demand and supply imbalance.
Crude Inventory Data Analysis
API estimates over U.S stocks are due tomorrow followed by eia confirmations. Monthly reports due late this week.
Crude Oil Technical Analysis
The significant increase in net long positions by money managers indicates strong bullish momentum while simultaneous rise in short only positions signaled cautious approach. The sharp rise in long only positions suggest growing confidence in upward price action driven by fundamentals. The drop in net length by other reportable shows a divergence in sentiment, expecting consolidation or volatility ahead.
Srinivas Chowdary Sunkara comments on crude oil price movement
support levels are expected at current levels due to strong buying interest as per numbers. A break out above recent resistance zone could accelerate rally, especially if backed by fundamental triggers.
