Crude oil futures in Asia slipped today, following a solid 2% rise last week. The increase came after two weeks of losses, with prices retreating from the six-month high of $87.67 per barrel reached on April 12th. Investors are closely watching the U.S. Federal Reserve this week for its monetary policy decision, amid concerns about high inflation and a strong economy. Friday's U.S. monthly jobs report for April will provide further insight into the job market's strength. Market attention is also on Chinese PMI figures for clues about demand trends from the world's largest crude importer. Despite worries about potential supply disruptions from Ukrainian drone attacks on Russian oil refineries, traders seem unperturbed for now. In the Eurozone, inflation data will be key in determining whether the European Central Bank will cut interest rates in June. MCX May oil futures were down Rs 25 at Rs 6974 per barrel.

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