Crude Stays Afloat Above $66 Levels, China Data Supportive

WTI Crude oil futures stayed supported following a good set of economic data from China. However, a rather tepid momentum in equities capped the commodity. Chinas economy grew at 6.8% in the first quarter, buoyed by strong consumer demand, healthy exports and robust property investment. Data also showed that Chinas March retail sales rose 10.1% from a year earlier, rising at the strongest pace in four months. This kept the WTI Crude afloat above $ 66 per barrel. The tailwinds have been supportive for oil following the Middle East worries and the prices are quoting just below their three year highs. MCX Crude oil futures are currently trading at Rs 4350 per barrel, almost unchanged on the day after hitting a high of Rs 4378 per barrel.