MCX Oil Slips Near Rs 4500 Levels, Trump Calls Prices Artificially High

WTI Crude Oil slipped from highest level in years amid mostly weak equities as the focus shifted on OPEC meet. Markets also witnessed profit selling after the US President Donald Trump blamed OPEC for artificially high oil prices. The President noted in a tweet that with record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially very high. This put breaks on the commodity after a sweltering rally and the commodity is currently trading at $ 67.85 per barrel, down 0.64% on the day. MCX Crude oil futures are currently trading at Rs 4506 per barrel, down half a percent on the day.