Energy Preview: WTI crude futures steady near two and half week lows

WTI crude oil futures are seen steadying near recent lower levels attained after around 12% decline this week as investors continue to focus on developments on Israel-Iran front. The ceasefire between Israel and Iran weighed on the commodity dragging it to its lowest level in over two-weeks. Currently, the counter is attempting to recoup some of its lost ground and quoting at $65.36 per barrel, up 0.7% on the day. Meanwhile, the uptick in oil prices is seen supported after the US Energy Information Administration (EIA) weekly report showed crude oil stockpiles in the US for the week ending June 20 declined by 5.836 million barrels, compared to a fall of 11.473 million barrels in the previous week.

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