Crude oil futures tumbled, giving up some of the gains in last session as equities stayed under continued pressure. Asian stocks fell on sustained worries over Chinas renewed COVID outbreak. Major indices in Europe lost around 1% in early moves. The US stocks fell sharply in early moves on inflationary worries but cut losses later on. Oil was also hurt after the psychological $100 per barrel mark was broken in a convincing manner for the WTI futures. The counter currently trades at $93.60 per barrel, down around 3% on the day. This is the lowest level in last four months for the counter.Powered by Commodity Insights
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