crude oil price Today as on 9th July, 2025
crude oil price trends: Brent oil futures for Sep delivery opened 17 cents down at $69.98 a barrel on London based ICE Futures Europe exchange while WTI August futures prices moving 0.293 pct down at $68.13 a barrel on NYMEX during early Asian hours on Wednesday morning. Last night, Both the benchmarks closed highest since June 23rd for a second day in a row.
Fundamental Analysis: U.S slowing oil production, Trump copper tariffs and Renews Houthi attacks over red sea are the headlines that ramped up oil prices. It is to be noted that Oil markets are moving advance despite of bearish momentum by OPEC supply increases. Technical short covering after brent brent touched over $70 is another psychological factor to be marked. On the data side, U.S crude stock piles are set to fell about 2.1 Mb last week. EIA will confirm the numbers later today. Monthly numbers are due this week.
Technical Analysis: Brent indicators are showing mild bearish divergence. Brent price curve moving below EMA with neutral RSI. WTI holding gains while losing momentum. consolidation possible before next move.
