Crude oil boom due to Production decreases in the US.Crude oil has risen and its price has reached the top of 10 days. Brent Crude has gone across $ 47. Prices have been supported by the decline in production in the US. Crude oil prices are also getting increased due to the loss of gasoline stock. WTI crude has gone up by 45% to $ 45. In fact, the production of crude oil in the US last week has reduced nearly one million barrels.
At present, crude oil is trading above Rs 2,910 on the MCX with a surge of 0.15% today.
@Buy Crude July Future above 2910 targets 2935, 2950 Stop Loss 2889.
Crude oil is trading flat and Brent’s price has fallen below $ 47 in the global market. At the same time, WTI crude is trading at $ 44, which is the lowest level of last seven months. In the last three weeks, crude oil prices have dropped by almost 15 percent. In fact, Libya’s production has increased and the US is also increasing production, so the pressure on prices is increasing. Today the rupee has weakened against the dollar and the price of 1 dollar is worth 64.5 rupees.
The decline in crude oil has deepened. Currently, crude oil on MCX has fallen 0.5 percent and it is trading at Rs. 2880. In fact, crude in the global market is at the bottom of the 7 month level.
Tips for Today: Intraday Trader can Sold MCX Crude Oil july Contract near at 2880 targets 2845, 2815 Stop Loss 2923.
Crude oil has fallen sharply. In the international market, the price of Brent has come down to $ 43. Currently, Brent is trading down nearly 1 percent. WTI crude fell below 42 dollars. Domestic market also seen impact by global market. In the domestic market MCX Crude Oil trading around 2835 with loss of 0.1 percent.
##@ You can Sold MCX Crude oil August future Contract around 2835 to 2830 targets 2812, 2797 with stop loss 2849.