WTI oil rebounds post 1% fall

WTI crude futures climbed back above $62 per barrel on Wednesday after sliding more than 1% in the prior session. Gains came as investors weighed the outlook for a possible Russia-Ukraine peace deal, with President Trump pushing for a Putin-Zelenskiy meeting and even proposing Hungary as a venue. However, Moscow has yet to confirm its participation, leaving uncertainty around supply relief. On the data front, US industry reports showed a 2.4 million-barrel draw in stockpiles, signaling firm demand. On the domestic front, MCX crude oil futures also advanced nearly 1%, mirroring international trends.

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