India's Bullion and Commodity is on a bearish outlook strongly backed by commodities likes Crude Oil.Crude oil futures fell sharply by Rs 61 to Rs 2,805 per barrel today.
In The International market Crude Oil Bearish in trend on Monday.
US crude dropping nearly 3 per cent Because off volatility in currency and sharp appreciation of Rupee against Euro.
US crude fell to $43.57 in early trading .Brent was trading at $54.32 a barrel, down 35 cents .According Federation of Indian Export Organisations(FIEO) contraction in global demand, lowering of prices of metal and commodities as well as volatility in currencies are largely responsible for such dismal performance.
According To Market outlook Oil prices are also under pressure from the strong US dollar.
At the Multi Commodity Exchange, crude oil for delivery in March shed Rs 61, or 2.13%, to Rs 2,805 per barrel in 24 lots.
The oil for April delivery moved down by Rs 55, or 1.81%, to Rs 2,981 in a volume of 721 lots.
Globally, West Texas Intermediate (WTI) crude oil fell by 47 cents at $44.37 a barrel, while Brent North Sea crude eased by 46 cents to $54.21 per barrel in late-morning trade on the New York.
In The International market Crude Oil Bearish in trend on Monday.
US crude dropping nearly 3 per cent Because off volatility in currency and sharp appreciation of Rupee against Euro.
US crude fell to $43.57 in early trading .Brent was trading at $54.32 a barrel, down 35 cents .According Federation of Indian Export Organisations(FIEO) contraction in global demand, lowering of prices of metal and commodities as well as volatility in currencies are largely responsible for such dismal performance.
According To Market outlook Oil prices are also under pressure from the strong US dollar.
At the Multi Commodity Exchange, crude oil for delivery in March shed Rs 61, or 2.13%, to Rs 2,805 per barrel in 24 lots.
The oil for April delivery moved down by Rs 55, or 1.81%, to Rs 2,981 in a volume of 721 lots.
Globally, West Texas Intermediate (WTI) crude oil fell by 47 cents at $44.37 a barrel, while Brent North Sea crude eased by 46 cents to $54.21 per barrel in late-morning trade on the New York.
2 comments:
Commodity daily Tips:
Bullish in trend SELL CRUDEOIL At 2830.00 T1- 2780.00- 2770.00, with SL- 2900.00
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