April, 30 2024 Tuesday 00:27 Hrs
  • SENSEX :   74,671.28

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Pre Session Commentary - Detailed News

Energy Preview: WTI Futures Retreat To One Week Low
16-Apr-24   08:15 Hrs IST
WTI Crude oil futures fell around 1% to test one week low as a drop from five month highs extended on first session of the week. Firm US dollar is capping the upside while worries over Middle East escalation are protecting the downside. Meanwhile, falling US rig count is also playing its part. The total number of active drilling rigs for oil and gas in the United States fell again last week, according to new data that Baker Hughes published on Friday, falling by 3. U.S. drillers saw a total loss of rigs this year of 5. The total rig count stands at 617 right now, compared to 751 rigs this same time last year. The number of oil rigs fell by 2 last week. Oil rigs now stand at 506--down by 84 compared to this time last year.

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