Crude stays well supported amid firm equities, DOW hits record high

Crude oil stayed well supported as WTI Crude futures hit a one-week high above $64 per barrel today. Equities provided positive cues for the counter and the commodity currently trades at $64.11 per barrel, up 0.71% on the day. In Asia, China's Shanghai Composite index saw continued gains and spiked 1.51% to hit fresh decade high. Hong Kong's Hang Seng index zoomed around 2%. Japanese Nikkei average added 0.41%. European stocks eased marginally. On Friday, the Dow Jones Industrial Average rallied to an all-time high Friday after Federal Reserve Chair Jerome Powell signaled the central bank could begin easing monetary policy next month. The Dow soared 1.89%, the S&P 500 rose 1.52% while the Nasdaq Composite gained 1.88%.

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