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Commodity News Details
WTI Crude oil mildly supported ahead of weekly US inventories
14-Aug-2024 17:54
WTI Crude oil futures stayed mildly supported today after falling sharply from three week high yesterday. The commodity trades flat at $78.25 per barrel. The counter fell more than 2% in overnight moves in US as elevated inventories hurt the sentiments. Crude oil inventories in the United States fell by 5.205 million barrels for the week ending August 9, according to The American Petroleum Institute (API), media reports quoted. Now the attention has shifted to the EIA weekly inventories data due today. Meanwhile, equities were steady today globally. China's Shanghai Composite index fell 0.60% while Hong Kong's Hang Seng index eased 0.35%. Japanese Nikkei 225 added 0.58% following a sharp spike in last session. European stocks saw modest gains. US stocks soared yesterday. The Nasdaq jumped 2.4% the S&P 500 advanced 1.7% while the Dow gained 1%.

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