Energy Preview: WTI Crude Lingers Around $79 Mark In Asia

11 Jan 2022 , 09:18 AM

Crude oil saw some corrective selling amid weak US equities last night but supportive European data capped losses. WTI Crude is back in winning mode and currently trades up 0.72% at $78.79 per barrel. Eurozone investor confidence climbed to 14.9 in January from 13.5 in December, survey results from the behavioral research firm Sentix showed Monday. The current situation index of the survey rose to 16.3 from 13.3, improving for the first time in four months. Meanwhile, the expectations measure fell to 13.5 from 13.8 in the previous month. That was the first decline in three months. Euro area jobless rate dropped to 7.2 percent in November from 7.3 percent in October, preliminary figures from the statistical office Eurostat showed Monday. The EU unemployment rate eased to 6.5 percent from 6.7 percent. The number of unemployed in the EU totaled 13.984 million persons in November, of whom 11.829 persons were in Eurozone. Compared to the previous month, the jobless figure fell by 247,000 persons in the EU and by 222,000 in the euro area. On a year-on-year basis, the unemployment total decreased by 1.659 million persons in the EU and by 1.411 million in the euro area.

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