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Commodity News Details
Oil holds gains as US inventories post surprise draw
26-Nov-2025 13:25
WTI crude traded with mild gains near $58 per barrel on Wednesday, supported by a surprise 1.9-million-barrel US inventory draw but pressured by signs of progress toward a Ukrainian peace deal that could lift restrictions on Russian crude and add to global supply. A potential resolution raises concerns about a deeper oil glut as production continues to outpace demand. The dollar index stayed below 100 after weak US economic data boosted expectations of a December Fed rate cut, offering some support to commodities. Retail sales rose less than expected and consumer confidence fell in November, indicating softer US demand. In domestic markets, MCX December crude oil futures were higher by 0.45% at ₹5189 per barrel.

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