Crude oil Watch: MCX Crude on rise

commodity tipsCrude oil futures continue supported today in spite of pressure in global equities. Global shares saw sharp selling pressure amid reports United States could shortly announce a new round of tariffs on Chinese imports.

West Texas Intermediate (WTI) Crude oil futures rose up USD 69 per barrel, amid strong buying support. However, Crude counter eased and continue trades at USD 68.41 per barrel, down 0.40 percent on the day.

MCX Crude oil futures reached optimum highs of Rs 5,049 per barrel and ended up 1 percent on the day at Rs 5,001 per barrel. Large energy speculators cut their bullish net positions in WTI Crude Futures markets last week, as per data released by the Commodity Futures Trading Commission.

Commodity Calls for Today 

  • BUY GOLD OCT ABOVE 30700 TARGET 30800
  • BUY ZINC SEP ABOVE 169.65 TARGET  170.65
  • BUY CRUDE OIL SEP ABOVE 4980 TARGET 5020