commodity bullions expected move up :crude oil future

In the indian commodity market the Crude oil futures rallied sharply on Friday, with prices continuing to recover from recent lows amid speculation productions cuts by drillers in the U.S and global oil companies will alleviate a glut in supplies.crude oil prises gained on monday crude oil delivary in march gained $1.57, or 3.07%

For the week, New York-traded oil futures climbed 77 cents, or 2.11%, the third straight weekly gain. New York-traded oil futures are up almost 15% over the past three weeks, however, prices are still down approximately 52% from a recent peak of $107.50 hit in June. Elsewhere, on the ICE Futures Exchange in London, Brent for April delivery soared $2.24, or 3.78%, on Friday to settle at $61.52 a barrel by close of trade. Prices hit $61.77 earlier in the session, the most since December 23. On Thursday, Brent surged $3.36, or 6.01%, to end at $59.28 a barrel. The April Brent contract rallied $3.02, or 4.84%, on the week.