Oil Carves Good Gains, MCX Futures Above Rs 6400 Per Barrel

27 Sep 2022 , 02:31 PM

WTI Crude oil futures have edged up today, rising on steady bargain buying as market eyed the slight weakness in the US dollar index after it hit above a fresh two-decade high above 114. The oil traders also eyed a modest recovery in the US dollar though broad demand worries and a break under $80 per barrel mark for the counter is bound to cap the advances. WTI Crude oil futures are currently trading at $78.10 per barrel, up 1.80% on the day. Oil is now focusing on the release of the weekly API inventory data today and EIA inventory data on Wednesday. MCX Crude oil futures are trading at Rs 6402 per barrel, up around 1% on the day after testing a low of Rs 6320 per barrel.Powered by Commodity Insights