Crude Oil Locked In Tiny Range

23 Mar 2022 , 02:42 PM

WTI Crude oil futures are consolidating around $110 per barrel, witnessing a volatile trading though the Ukraine-Russia war is keeping sentiments supported for the commodity. European markets edged up in early moves, providing good boost to oil after the prices moderated in Asia. The weekly US crude oil inventory data from the Energy Information Administration or EIA is due later on today and oil traders will be eying is closely. The counter currently trades up 0.75% at $110 per barrel. MCX Crude oil futures are trading marginally lower at Rs 8398 per barrel after hitting a high of Rs 8466 per barrel. The US dollar index is hovering just above 98.60 mark, witnessing a lax movement ahead of speeches from a number of US Fed officials including the Chief Jerome Powell.

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