Crude oil slips over 1% on MCX as oversupply fears resurface

WTI crude oil futures fell near $60.5 per barrel in Asian electronic trading on Tuesday, snapping a four-day advance as oversupply concerns overshadowed OPEC+?s decision to pause output increases early next year. The group plans to halt further hikes from January to March, citing seasonal demand softness. A firm dollar, hovering near a three-month high at 99.6, also weighed on oil prices, making the commodity more expensive for holders of other currencies. MCX crude oil futures for November delivery slipped over 1% to Rs 5373 per barrel.

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