WTI slips near $64; headed for first monthly loss in four

WTI crude futures fell nearly 1% to around $64 per barrel on Friday, heading for the first monthly loss in four. A stronger US dollar, with the index near 97.9 ahead of July?s PCE data projected at 2.9%, weighed on sentiment. Prices also faced pressure from expectations of softer US fuel demand post-summer and the IEA?s warning of a looming supply surplus. Still, geopolitical tensions, including Ukrainian drone strikes on Russian energy hubs and potential new US sanctions, curbed steeper losses. Domestically, MCX September crude futures edged higher by 0.6% to ₹5652 per barrel.

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