WTI Crude Oil Bounces Ahead Of EIA Data, MCX Futures Above Rs 8100 Per Barrel

30 Mar 2022 , 05:33 PM

Crude oil edged up today as the familiar worries over Russia-Ukraine war returned to prop up prices after a sharp slide in last session. Kremlin spokesperson Dmitry Peskov said Wednesday there were no breakthroughs following a round of Russia-Ukraine in-person negotiations in Istanbul but welcomed Ukraines written demands, according to media reports. This was quite contradictory to reports stating that peace talks between Ukraine and Russia in Turkey turned somewhat positive with Russia offering to scale down military operations around Kyiv. WTI Crude tanked under $100 per barrel before witnessing a recovery and WTI Crude currently trades at $106 per barrel, up 2.33%. MCX Crude oil trades up 2.67% at Rs 8121 per barrel on firm global cues. Market is waiting for EIA weekly crude oil inventories.

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