Crude oil may trade in range with positive bias amid firm international clues. Weaker local currency can cap the downside in MCX. Overall it can move in range of 6120-6250 in MCX.
West Texas Intermediate traded near the highest price in more than four weeks before data that may signal the strength of the economy in the U.S., the world’s biggest oil consumer.
Rebels in eastern Libya threatened to shut two oil ports to protest the appointment of the OPEC nation’s new prime minister. WTI for July delivery was at $104.29 a barrel in electronic trading on the New York Mercantile Exchange, down 6 cents, at 11:49 a.m. Sydney time.
Natural gas may witness some short covering a lower levels as it can move in range of 256-266 in MCX.
www.punjiniveshonline.com
West Texas Intermediate traded near the highest price in more than four weeks before data that may signal the strength of the economy in the U.S., the world’s biggest oil consumer.
Rebels in eastern Libya threatened to shut two oil ports to protest the appointment of the OPEC nation’s new prime minister. WTI for July delivery was at $104.29 a barrel in electronic trading on the New York Mercantile Exchange, down 6 cents, at 11:49 a.m. Sydney time.
Natural gas may witness some short covering a lower levels as it can move in range of 256-266 in MCX.
www.punjiniveshonline.com
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