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Energy Preview: WTI crude futures deepen slide under $65 per barrel
01-Jul-2025 08:57

WTI Crude oil futures deepen slide below $65 per barrel mark on Tuesday morning in Asia amid easing geo-political tensions after the Israel-Iran ceasefire. Meanwhile, US crude oil production hit a record 13.47 million bps in April, up from 13.45 million bpd in the previous reading, according to data released by the Energy Information Administration, contributing to the downside for the commodity. Investors will closely monitor trade negotiations, with just 10 days until US President Donald Trump's tariffs are set to resume. Weekly crude oil inventories will also be watched for further cues. Currently, the counter is quoting at $64.79 per barrel, down half a percent on the day.

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