WTI crude oil futures continue to steady in a narrow range around $63 mark on Friday morning in Asia. Resumed US-China trade talks and possible resurgence in fuel demand is keeping the commodity supported. However, investors will closely watch upcoming non-farm payrolls data that could determine Fed's future rate-cut path and dollar direction. Currently, the counter is quoting at $63.15 per barrel, down 0.32% on the day but is set for a weekly gain of nearly 4%. Meanwhile, data yesterday showed US crude oil refinery inputs averaged 17 million barrels per day during the week ending May 30, 2025, which was 670 thousand barrels per day more than the previous week's average. Refineries operated at 93.4% of their operable capacity last week. Gasoline production decreased last week, averaging 9 million barrels per day. Distillate fuel production increased by 183 thousand barrels per day last week, averaging 5 million barrels per day.

Powered by Commodity Insights