MCX Crude In Red But Sees Good Bounce From Lows Near Rs 8100 Mark

23 Jun 2022 , 05:09 PM

WTI Crude oil futures stayed weak today as market waited for the weekly EIA crude oil inventories data. The commodity currently trades at $105.73 per barrel, down 0.48% on the day though prices are up from their recent lows. MCX Crude oil futures are down 0.51% at Rs 8300 per barrel after testing near Rs 8100 mark in early moves. Asian stocks saw choppy moves amid continued worries over Russia-Ukraine war and recession. European shares fell in early moves with German DAX sliding more than 1% on the day on global recession worries. Oil has seen sustained losses in last few days as the International Energy Agency (IEA) noted that slowing demand growth and a rise in oil supply through to the end of the year should help balance the market. Powered by Commodity Insights