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Commodity News Details
Crude slips to $61 as China growth slows; Dollar supports
19-May-2025 12:45
Crude oil futures declined to around $61 per barrel on Monday, dragged down by weaker industrial output and retail sales data from China, raising concerns about the strength of its economic recovery. However, losses were cushioned by ongoing uncertainty over Iran-US nuclear talks, which could impact global supply. A weaker US dollar also supported oil, with the dollar index falling to 100.6 after Moody's downgraded the US government's credit rating to Aa1 due to rising debt, now at $36 trillion. Meanwhile, US President Trump said he would speak with Russian President Putin to discuss ending the Ukraine war. On MCX, June crude futures were last seen trading at ₹5268, down over 1% per barrel.

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