Crude Slides Ahead Of Inventories Data

WTI Crude oil futures corrected ahead of the EIA weekly US crude oil inventories data. WTI Crude has slumped 1.5% to trade at $82.61 per barrel in Asia right now. Traders are keeping an eye on the Chinese Covid-19 situation. The Chinese capital Beijing further tightened measures on Monday to contain the recent spike in COVID-19 cases, asking residents who travelled to other areas of the country that reported a surge to put off their return plans as cases continued to climb in the country. Tepid manufacturing readings in leading economies also weighed on the counter.

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