Mumbai, April 24 -- Crude oil futures maintained levels above $83 per barrel, supported by unexpected data showing a decline in US crude inventories, indicating strong demand. The American Petroleum Institute reported a 3.23 million barrel decrease, contrasting with the previous week's build-up. The demand outlook was further reinforced by cooling US business activity, potentially paving the way for Federal Reserve interest rate cuts. Geopolitical tensions in the Middle East, particularly Israel's intensified strikes in Gaza, also kept investors cautious. MCX May delivery crude oil futures were seen trading up by Rs 36 at Rs 6964 per barrel.
Published by HT Digital Content Services with permission from Capital Market....