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(26 Jun 2024, 15:25)

WTI Crude spurts after falling in last session

WTI Crude oil futures nudged above $81 per barrel in Asia's electronic trades today, bouncing back from yesterday's dip. This comes despite US API data revealing a 0.914 million barrel rise in crude inventories, stoking demand concerns. Official data from the US EIA will follow later on Wednesday. Investors are also eyeing upcoming US PCE inflation data for clues on Fed rate moves. Geopolitical tensions, including Ukrainian drone strikes on Russian oil sites and failed peace talks between Israel and Hamas, kept oil near two-month highs. Oil had lost around 1% in last session.

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