Energy Preview: WTI crude futures at one-week high

WTI crude oil futures are lingering around a one-week high on Friday morning in Asia amid signs of strong US demand and uncertainty over efforts to end the war in Ukraine. Data released by the US Energy Information Administration (EIA) yesterday showed crude inventories fell more than expected last week, pointing to robust demand in the world?s largest oil consumer and underpinned the WTI price. Moreover, lack of a near-term resolution between Russia and Ukraine contributes to the WTI?s upside. The counter is currently seen quoting at $63.41 per barrel, down 0.17% on the day.

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