Crude gains more than 1% as US equities hit record high

Crude oil prices moved higher after testing one-week low and WTI futures are currently quoting at $92.48 per barrel, up 1.30% on the day. The counter has edged up after testing three-week lows under $90 per barrel in last session amid firm equities and weak US dollar. In overnight moves, the US benchmark S&P 500 and tech-heavy Nasdaq hit record closing highs. World equities have found support this week from investor hopes that US and Iran could return to the negotiating table with a view to ending the war soon. MCX Crude oil futures moved up from lows around Rs 8260 per barrel and currently quote at Rs 8388 per barrel, up 0.43% on the day. The counter moved up 0.43% in last session with a sharp drop of 18% in open interest.

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