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As on: Jan 26, 2021 01:19 AM
MCX Crude Oil Eases Half A Percent
14-Jan-21   17:52 Hrs IST

WTI Crude oil futures eased a little amid slight profit selling as prices pulled back from a one year high. The Dow Jones ended flat yesterday and overall market momentum is cautious today as US President-elect Joe Biden is expected to release details on his economic plan. WTI Crude oil futures are currently trading at $52.73 per barrel, down 0.34% on the day. MCX Crude oil futures are currently trading at Rs 3851 per barrel, down 0.52% on the day. China's total crude oil imports surged 7.3% in 2020 to a record 542.37 tonnes in 2020. However, December imports were 38.47 million tonnes, marking a slide of 15% from 10.71 million bpd in December last year.

Meanwhile, the US economy grew “modestly” in the final weeks of 2020, as a resurgence in Covid-19 cases prompted activity in some sectors to slow, a Federal Reserve report known as the Beige Book stated yesterday. The report said most Fed districts reported that economic activity increased modestly since the previous reporting period, but noted that conditions remained varied.

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