Crude corrects near three-week low

WTI Crude oil saw sustained losses amid volatile trades as a break under $100 per barrel mark extended. A sharp spike in the US dollar is dragging commodities lower while markets also eyed media reports talking about US-Iran diplomatic contacts in New York. WTI Crude fell under $90 per barrel to test lowest in around three-weeks and currently trades down 0.85% at $89.72 per barrel. Some cautiousness is possible ahead of the weekly EIA US crude inventories data today. MCX Crude is currently trading at Rs 8608 per barrel, down 0.40% on the day after the counter tested lows near Rs 8500 per barrel mark.

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