Crude Oil Prices Rise: WTI Bullish at $61.60, Brent at $64.56

Crude Oil Price Today: WTI Bullish at European Opening, Brent Also Gains

May 23, 2025 – Crude oil prices moved higher on Thursday during early European trading hours, with both West Texas Intermediate (WTI) and Brent crude recording modest gains amid improving market sentiment and stable global demand outlooks.

WTI crude oil climbed to $61.60 per barrel, up from Wednesday’s close of $61.23, continuing a short-term uptrend as energy markets respond to improving economic data and geopolitical developments.

At the same time, Brent crude, the international benchmark, also showed strength, trading at $64.56 per barrel, compared to $64.23 the previous day. Both benchmarks reflect bullish momentum driven by investor optimism over potential demand growth heading into the second half of the year.

Oil markets are also reacting to expectations around OPEC+ production decisions, refinery activity levels, and ongoing tensions in key oil-producing regions, particularly in the Middle East. While no major supply disruptions have been reported, geopolitical risks remain a factor supporting prices at current levels.

Analysts are watching closely for any new data releases, particularly from the US Energy Information Administration (EIA) and updates on global inventories, which could further shape short-term market direction.

Overall, the early European session has set a bullish tone for crude, with WTI and Brent both trading in positive territory, suggesting renewed confidence in the energy sector.