Mumbai, Oct. 31 -- WTI crude oil is down more than half a percent in early Asia on Friday tracking strength in greenback overseas after hawkish comments from Fed who warned that a December rate cut is uncertain and inflation remains stocky. DXY is holding well above 99 mark. Meanwhile, the counter is quoting at $60.14 per barrel, down 0.71% on the day and set for a weekly decline of over 2%. Despite fresh sanctions on Russia and improving refining margins, abundant supply and cautious demand outlooks limit momentum. The upcoming OPEC+ meeting on November 2 also looms large as the group weighs an additional 137,000 bpd supply hike for December.
Published by HT Digital Content Services with permission from Capital Market....