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Commodity News Details
WTI dips below $64; MCX crude at ₹5583
28-Aug-2025 12:51
Crude oil prices retreated on Thursday, with MCX September futures down 0.6% at ₹5583 per barrel and WTI trading lower by 0.8% at $63.63. Market participants now await the PCE price index, the Federal Reserve's preferred inflation gauge, for fresh policy direction. Despite the decline, losses were cushioned by a notable draw in US inventories, with crude stockpiles falling by 2.39 million barrels and Cushing levels down 838,000 barrels, reflecting firm underlying demand ahead of Labor Day. Additionally, heightened Russia-Ukraine hostilities targeting energy infrastructure and expectations of a potential Fed rate cut offered partial support.

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