Oil markets experienced volatile trading on March 3, 2025, with prices fluctuating between geopolitical tensions and mixed demand signals. The April WTI contract opened at $68.13 (up 55¢ from prior close) and ultimately settled at $67.58 (+0.6%), while Brent crude settled at $71.07 (+0.7%).
Geopolitical Factors
U.S. launched retaliatory strikes against Houthi rebels in Yemen over Red Sea shipping attacks, creating supply disruption risks. OPEC+ confirmed plans to gradually unwind 5.85M bpd production cuts starting April 2025, introducing bearish sentiment.
Trump administration tariffs (25% on Canada/Mexico, 10% on China) raised fears of economic slowdown and demand destruction.
Fundamental Data
WTI hit a day high of $68.37 and a low of $67.25, with its 50-Day Moving Average at $70.11 and a 14-day RSI of 48.7. Brent reached a high of $71.80 and a low of $70.68, with a 50-Day MA at $71.35 and RSI at 51.2.
Technical analysts noted critical support at $67.25 (WTI) and $70.53 (Brent), with resistance at $68.50 and $72.30 respectively. The MACD histogram showed weakening bearish momentum across both benchmarks.
Regional Market Highlights
Asia
Prices found early support from China’s manufacturing PMI (52.1), the strongest in 3 months.
Europe
ICE Brent volumes surged 22% above 30-day average as traders positioned for OPEC+ policy shift.
North America
Cushing inventories drew 1.8M barrels, but WTI faced pressure from Permian pipeline restarts.
Capital Flows & Positioning
WisdomTree Brent 3x Short ETF (3BSR) saw £14.1M outflows (-3.96% NAV drop). CFTC data showed managed money net longs fell to 148,000 contracts (-73% YTD), lowest since July 2024. Brent open interest declined 4.2% as producers hedged against April OPEC+ supply increases.
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Commodities — Live Market Board
+0.03%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| GOLD | 4,075 | -0.94% | -1.14% | 4,114 | 4,116 | 4,035 | 166,431 |
| SILVER | 51.94 | -0.56% | +3.52% | 52.23 | 52.38 | 51.20 | 45,936 |
| BRENT | 98.32 | +0.03% | +53.48% | 98.29 | 100.92 | 96.65 | 38,993 |
| WTI | 90.83 | +0.34% | +51.06% | 90.52 | 92.53 | 89.07 | 253,859 |
| COPPER | 6.24 | -0.18% | +22.63% | 6.25 | 6.29 | 6.19 | 72,116 |
| LITHIUM | 60.91 | +1.21% | +0.03% | 60.18 | 61.25 | 60.27 | 204,575 |
| IRON ORE | 161.91 | — | +55.73% | 161.91 | 161.91 | 1 | |
| SOY | 1,194 | +1.08% | +6.97% | 1,181 | 1,196 | 1,184 | 121,591 |
| CORN | 441.50 | +0.34% | +2.73% | 440.00 | 442.50 | 438.50 | 202,229 |
| WHEAT | 591.25 | -1.34% | +10.36% | 599.25 | 602.25 | 585.00 | 119,111 |
| COFFEE | 280.15 | +1.08% | -32.45% | 277.15 | 282.50 | 276.00 | 24,446 |
| SUGAR | 18.25 | -1.67% | +28.52% | 18.56 | 18.60 | 18.13 | 83,842 |
| COCOA | 5,119 | -1.20% | -16.11% | 5,181 | 5,400 | 5,192 | 26,530 |
| ORANGE JUICE | 130.55 | +1.63% | -28.15% | 128.45 | 140.35 | 135.75 | 440 |
| COTTON | 78.54 | -0.22% | +22.13% | 78.71 | 78.38 | 77.73 | 15,128 |
| BEEF | 214.05 | -0.16% | -6.34% | 214.40 | 214.60 | 210.85 | 34,881 |
| CATTLE | 318.38 | -2.05% | -5.15% | 325.05 | 320.35 | 312.05 | 14,677 |
| USD/BRL | 5.51 | -0.01% | +2.73% | 5.51 | 5.51 | 5.50 | — |
Market Maker Commentary
“The OPEC+ plan to offset new production with compensatory cuts creates a floor around $65, but tariffs could cap upside near $70 until demand clarity emerges” – Amena Bakr, Kpler.
“Technical indicators suggest rangebound trading until WTI conclusively breaks $68.50 resistance or $65 support” – Sprague Energy Technical Team.
Prices ultimately consolidated within established ranges, with the CBOE Crude Oil Volatility Index (OVX) settling at 38.6 (+9% WoW) as traders priced in multiple macro uncertainties. The market’s inability to sustain early gains above $68 reflected growing caution about demand sustainability amid escalating trade wars.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. How we use AI · Report an error
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