WTI crude oil futures rose above $71 per barrel on Tuesday, rising for the third consecutive session amid thin holiday trading, after fresh data revealed that China's manufacturing activity grew in December. China's factory output grew for the third straight month, though at a slower pace, suggesting that fresh stimulus is supporting the economy of the world’s largest crude oil importer. Traders are now awaiting US factory survey data for further insights into the demand outlook. Meanwhile, oil is on track for a modest annual loss of around 0.5% after months of being confined to a narrow trading range. The market is now bracing for a potentially turbulent year ahead, with concerns about a supply glut, geopolitical risks, and the potential impact of the incoming Trump administration on oil policy contributing to caution.
Crude Oil traded at 71.72 since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Crude Oil reached an all time high of 147.27 in July of 2008. Crude Oil - data, forecasts, historical chart - was last updated on January 1 of 2025.
Crude Oil traded at 71.72 since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil is expected to trade at 73.36 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 78.52 in 12 months time.