Mumbai, Nov. 27 -- MCX December crude oil futures traded 1% higher at Rs.5245 per barrel even as WTI slipped below $58.5 amid uncertainty over Russia-Ukraine peace efforts. Hopes of sanctions relief on Russian crude boosted long-term supply expectations, though investors doubt a quick breakthrough. Markets also turned their focus to this weekend's OPEC+ meeting for signals after the group recently paused its planned output increases for early next year. WTI remains on track for a fourth consecutive monthly decline, its longest losing streak since 2023, weighed down by expectations of a supply surplus as production continues to exceed demand.
Published by HT Digital Content Services with permission from Capital Market....