Energy Preview: WTI Crude Corrects After Hitting $80 Mark As Covid-19 Weighs

10 Jan 2022 , 12:52 AM

WTI Crude oil futures tested $80 per barrel in last session but pulled back on weakness in the US equities and sustained worries due to the escalating Covid-19 cases around the globe. The US stocks stayed slippery on Friday. The S&P 500 and the Nasdaq closed lower for the fourth consecutive session. The total number of COVID-19 cases registered globally passed 300 million on January 7. In the first week of 2022, 34 countries have recorded their highest number of weekly cases since the start of the pandemic. The world recorded 13.5 million cases in the last week alone, which is 64 per cent higher than the previous seven days. WTI Crude eased around half a percent following this to end just under $79 per barrel mark. MCX Crude oil futures closed at 5846 per barrel, down 0.90% on the day.

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