WTI rebounds near $67 on bullish global cues

WTI crude oil futures rose toward $67 per barrel on Thursday, snapping a three-day losing streak as improving US economic data and resilient Chinese growth boosted demand sentiment. WTI Crude tanked near a two-week low in last session before witnessing mild recovery. The US crude inventories dropped by 3.9 million barrels last week, signaling strong consumption. OPEC reinforced the bullish tone by maintaining its 2025 global oil demand growth forecast at 1.3 million barrels per day, with non-OECD nations expected to account for 1.2 mb/d of the rise. Despite the positive global backdrop, MCX August crude futures fell 0.14% to Rs 5605 amid local selling and profit booking.

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