Crude oil off one and half week low

WTI Crude oil futures fell in last session, testing around one and half week low of $63.60 per barrel as some corrective moves were seen after the counter hit near seven-month high. Volatile US equities weighed on the sentiments while continued focus on US-Iran nuclear talk capped the downside for commodity. WTI Crude oil futures are currently quoting at $65.49 per barrel, up 0.43% on the day. Meanwhile, oil markets are also focussing on the US demand trends. Latest data showed that the US crude oil imports averaged 6.7 million barrels per day last week, increasing by 136 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 4.9% more than the same four-week period last year.

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