WTI Crude slippery in Asia, MCX futures linger around Rs 5000 per barrel

WTI crude futures stayed slippery in Asia and currently trades at $56.65 per barrel, down 0.87% on the day. The counter is staying under $60 per barrel and is not far from a five and half month low. MCX Crude oil futures are lingering at Rs 5000 per barrel, down 0.70% on the day. Upside remained limited as US crude inventories surged by 7.4 million barrels last week, recording the largest rise since July to stand at 423.8 million barrels, according to Energy Information Administration or EIA. Meanwhile, the International Energy Agency or IEA stated in a latest monthly update that global oil demand rose by 750 thousand barrels per day (kb/d) y-o-y in 3Q25, as petrochemical feedstocks led a rebound from 2Q25?s tariff-afflicted 420 kb/d pace. IEA noted that oil use will remain subdued over the remainder of 2025 and in 2026, resulting in annual gains forecast at around 700 kb/d in both years. This is well below historical trend, as a harsher macro climate and transport electrification make for a sharp deceleration in oil consumption growth.

Powered by Commodity Insights