Mumbai, May 22 -- Crude oil futures fell toward $60 per barrel on Thursday, touching a two-week low as oversupply concerns mounted. The decline followed a surprise build in US crude inventories, with the EIA reporting a 1.328 million barrel rise last week. Gasoline and distillate stocks also climbed, defying expectations for a drawdown. Adding to the pressure, a broader market sell-off sparked by rising US deficit worries weighed on sentiment. Meanwhile, hopes for easing Middle East tensions grew ahead of the upcoming fifth round of US-Iran nuclear talks, which have calmed fears over potential supply shocks. This followed recent reports suggesting possible Israeli military action on Iranian nuclear facilities. MCX June oil futures tripped b...
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