Today the Inventory Report of the US Petroleum Institute is on the way and the pressure in crude oil has increased today. The Sharara oil field has started again in Libya, and there is a possibility of increasing production from there. Let us tell you Libya production is not included in the deduction. Meanwhile, the production of OPEC in July this year has gone to record levels. In such cases, pressure on crude oil prices has remained constant. Crude oil in the global market is down by about 0.5 percent and recovery at NYMEX is running below $ 50.
in the domestic market MCX Crude Oil is trading near at 3170 with gain of 0.5 percent.
@Sell MCX Crude Oil for intraday at current market levels 3170 august targets 3145, 3125 Stop Loss 3205.
Dollar touched the lowest level in the past seven weeks, the support to the rupee and it has had a major impact on the commodity market moves. Crude oil and Natural Gas in the global market has accelerated. Gold have touched 2 month of upper levels. However, gold is under pressure from the upper level. The decline in the dollar and the rise in crude oil prices is around 0.5 percent. With declining production support to crude prices, as well as the impact of the decline in the dollar. While natural gas is trade up 1 percent today.
MCX Gold is trading at Rs 28750 with loss 0.2 percent. Silver fall by 0.15 percent is trading at Rs 41 630 with osteoporosis. 0.1 per cent on MCX crude oil is trading at Rs 3620 with marginal gains.
Buy Crude Oil for Today Trading session , Buy Natural Gas for Today trading session.
Crude oil has been fall in morning session. Nymex crude oil has come down to 50 dollar. Stores in the US has increased pressure on prices. According to the American Petroleum Institute reported yesterday that US crude stocks had risen 4.8 million barrels. While many of the member countries to cut production OPEC denied. Meanwhile, Nigeria’s crude exports have increased. The crude oil whipped round.
MCX Crude oil slipped at around 1 percent to Rs 3,315 arrived. Technical Zone also MCX Crude looking Bearish trend, @Sell MCX Crude oil November future contract at around 3,315 targets 3290, 3265 Stop Loss 3339.