Benchmark crude prices has gained momentum this week with increasing uncertainty when and where the Israeli response to Iran will take place. Israel continues to battle on multiple fronts as other western countries seeks to calm the situation to prevent further escalation. The US election is only a couple weeks away with traders looking for answers on how the outcome will impact oil prices and the geopolitical uncertainties.
Market fundamentals are still on the weaker side as for supply and demand balance, with OPECs release of voluntary cuts starting in December. The release of the 2.2 million bpd cut would bring an additional 180 kbpd monthly over a 12-month period.
| Month | Last |
| Crude Oil Dec 2024 | 72.02 |
| Crude Oil Jan 2025 | 71.57 |
| Crude Oil Feb 2025 | 71.16 |
| Crude Oil Mar 2025 | 70.83 |
| Crude Oil Apr 2025 | 70.57 |
| Crude Oil May 2025 | 70.33 |
| Crude Oil Jun 2025 | 70.11 |
| Crude Oil Jul 2025 | 69.87 |
| Crude Oil Aug 2025 | 69.48 |
| Crude Oil Sep 2025 | 69.39 |
| Crude Oil Oct 2025 | 69.02 |
| Crude Oil Nov 2025 | 68.63 |
| Crude Oil Dec 2025 | 68.79 |
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