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Crude Corrects On Profit Selling, WTI Futures Slip 1%

16 May 2022 , 05:05 PM

WTI Crude oil futures eased a little today after sharp gains in last session. Some profit selling was seen emerging in the counter as rising US rig count data and firm US dollar capped advanced of the commodity beyond $110 per barrel. However, steady equities also limited the losses. Asian stocks mostly gained while European markets also edged up impressively on Monday. WTI Crude oil futures are currently trading at $109.31 per barrel amid these cues, down around 1% on the day.Powered by Commodity Insights

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