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Crude oil prices remain firm

In the international market, crude oil price has remained firm. The price remained firm as the oil producing nations has reached in a deal to decline the production. OPEC+ had agreed to reduce output by 9.7 million barrels per day for May-June, after four days of marathon talks.

US West Texas Intermediate (WTI) crude futures were up 7.3% at US dollar 24.43 per barrel in highly volatile trade, having fallen more than 3% to US dollar 22.03 earlier in the session. International benchmark Brent futures rose 5.5% to US dollar 33.22 per barrel.

The Nikkei fell 1.4% while MSCI’s broadest index of Asia-Pacific shares outside Japan slipped slightly, with South Korean shares falling 0.9%. US S&P 500 mini futures dropped 1.54%.

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