Crude Oil price Today – WTI Crude Bounces 2%, OPEC Meeting In Focus

The WTI Crude oil futures witnessed good bargain buying after testing a one week low yesterday. Oil had eased after recent spurt in the prices that took the WTI futures to a 13 month high. WTI Crude oil raced up amid supportive equities currently holds just under $61 per barrel, up 2% on the day. The American Petroleum Institute (API) data showed yesterday that US crude supplies rose by nearly 7.4 million barrels for the week ended February 26th, media reports noted. Meanwhile, the 49th Meeting of the Joint Technical Committee of DoC participating countries has begun via videoconference. Oil is likely to be volatile after recent slide. MCX Crude oil futures are trading at Rs 4452 per barrel, down 0.36% on the day after testing near Rs 4370 per barrel earlier in the session.

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