(20 Feb 2025, 15:00)

Crude oil eases from three week high

WTI Crude oil futures eased today as markets eyed the release of weekly EIA Crude oil inventories data due later on. The counter had hit a one week high around $73 per barrel last night as US equities broadly stayed supported and with the S&P 500 once hitting a new record closing high. Oil eased a bit today though as mixed to choppy equities capped gains. The counter currently trades down 0.28% at $71.90 per barrel. The risk sentiments were weak as Japanese yen hit its strongest level in over two months. The American Petroleum Institute (API) has reported that Crude oil inventories in the United States rose by about 3.34 million barrels during the week ended February 14, media reports showed.

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Crude oil eases from three week high