Crude oil corrects as US shutdown to weigh on demand

WTI Crude oil futures corrected in afternoon, giving up some of the recent gains amid positive equities as markets eyed possibility of US-China trade deal and profit selling emerged after 7.60% rally in last week. The counter currently trades at $60.97 per barrel, down 0.86% on the day. Oil traders are now worried about the extended US federal government shutdown and its impact on broad economic outlook. The MCX Crude oil futures are currently trading at Rs 5384 per barrel, down 0.79% on the day as losses accentuated after the counter fell in negative territory.

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