Energy Preview: MCX Crude Loses Around 1%

Energy Preview: MCX Crude Loses Around 1%

Sep 20, 2021 12:09 IST capital market

WTI Crude oil futures slipped under $72 per barrel in last session as a firm US dollar index hit commodities. The counter extended losses from around five week high. The Energy Information Administration of EIA noted that the gross US crude oil imports decreased from 6.2 million b/d in the first half of 2020 to 5.9 million b/d in the first half of 2021. This led to some downwards shift in sentiments as traders continued to seek clarity about the near term US demand trends. The MCX Crude oil futures for October lost 1.18% to close at Rs 5282 per barrel, breaking under Rs 5300 mark on bearish global cues.

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