Crude oil retreats on supply hopes; MCX futures drop nearly 2%

WTI crude oil fell nearly 1.5% towards $92 per barrel on Tuesday, snapping a three-session winning streak as traders weighed the prospect of increased Russian diesel supplies against renewed supply risks from Houthi attacks on Saudi Arabia. Russia signalled it could restore diesel exports beyond the levels outlined in its reported agreement with the US, while Washington temporarily lifted sanctions on Russian fuel exports. Meanwhile, in currencies, the US dollar index eased towards 102 but remained near its strongest level since April 2025, as markets awaited US CPI on Wednesday and PPI on Thursday, alongside existing home sales and comments from Federal Reserve officials. On MCX, October crude oil futures fell nearly 2% to ₹8,812 per barrel.

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