WTI Crude Manages To Hold Near $79 Mark Despite Weak Equities

28 Sep 2022 , 04:53 PM

WTI Crude oil futures edged up impressively today, holding onto gains after testing a nine month low as markets eyed the possibility of additional supply cuts from OPEC. Falling equities capped the upside though and WTI Crude oil is currently trading at $78.90 per barrel, up 0.51% on the day. Asian markets fell with the Chinese Shanghai Composite giving up 1.58%. The Japanese Nikkei 225 index lost 1.5% while Hong Kongs Hang Seng tanked 3.43%. European shares slipped heavily amid lack of major economic cues. The US stocks continued to extend losses into bear market territory as sustained selling pressure hurt the sentiments. Powered by Commodity Insights