Mumbai, Nov. 20 -- WTI crude futures ticked up to $59.5 in Thursday's electronic trades, recovering some ground after a steep 2% fall in the previous session. Prices found support from a larger-than-expected 3.4 million-barrel drop in U.S. crude inventories, indicating firm refining runs and strong export demand. The inventory decline helped offset pressure from a stronger dollar, which stayed above 100 as traders reassessed the Fed's stance following divided FOMC minutes. With uncertainty around a potential December rate cut, markets are now focused on the delayed U.S. nonfarm payrolls report, expected to show modest job gains and offer clearer direction for oil.
Published by HT Digital Content Services with permission from Capital Market...