WTI drifts lower to near $63.50 amid US demand concerns

WTI drifts

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.60 during the early Asian trading hours on Thursday. The WTI edges lower as data showing an increase in US diesel stockpiles stoked worries about demand. However, the persistent geopolitical tensions might help limit the black gold’s losses. 

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WTI hovers around $63.00 ahead of US tariffs on India

WTI

US tariffs on India : West Texas Intermediate (WTI) Oil price moves little after registering more than 2% decline in the previous session, trading around $63.10 per troy ounce during the Asian hours on Wednesday. Crude Oil prices remain steady as traders adopt caution ahead of new United States (US) tariffs on India, the world’s third-largest crude importer.

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Oil eases after rising to two-week high on Russia-Ukraine supply concerns

Russia-Ukraine supply concerns

Crude Oil prices slightly decreased on Tuesday, following a nearly 2% surge in the previous session, as traders closely monitor the Russia-Ukraine conflict’s potential impact on fuel supplies. Concerns over supply disruptions due to Ukrainian attacks on Russian energy infrastructure and anticipated U.S. sanctions on Russian oil are influencing market sentiment. Traders are also awaiting U.S. inventory data.

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