Mumbai, Dec. 5 -- WTI crude oil hovered near $59.5 per barrel in mid-Asian trading on Friday after US crude stockpiles rose by 574,000 barrels for the week ending November 23, easing from the previous week's larger build. Reports of Ukrainian attacks on Russian oil infrastructure added supply concerns, offering some upside support. A weaker US dollar, with the dollar index slipping below 99 on expectations of Fed rate cuts, also helped limit losses. On the domestic front, MCX December crude futures traded flat at Rs.5382 per barrel. Investors now await the delayed September PCE inflation data along with figures on consumer spending and incomes for further cues.
Published by HT Digital Content Services with permission from Capital Market....