Oil markets lose momentum while investors brace for EIA and OPEC+ outlook
09-Dec-2025
13:36
WTI crude oil futures drifted below $59 on Tuesday as the market reassessed the evolving trajectory of proposed Russia-Ukraine peace negotiations, a development that could meaningfully alter medium-term supply dynamics. The dollar index hovered near 99 in a subdued range as traders positioned cautiously ahead of the Federal Reserve's December 10 announcement, where a 25-basis-point rate cut is largely priced in even as expectations for aggressive 2026 easing have moderated. Domestic benchmarks reflected a sharper pullback, with MCX December crude oil futures sliding to ₹5298 per 10 grams, underscoring more pronounced downside intensity relative to global markets. Investors now turn their attention to the forthcoming EIA and OPEC+ reports, which are expected to provide clearer contours on demand elasticity, production strategy, and inventory trends that could set the tone for crude's next directional phase.
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