MCX Commodity watch on Crude oil

In the Multi Commodity Exchange (MCX) Crude oil futures traded lower, tracked by sluggish trend in overseas markets with Brent crude fall below USD 60 per barrel.

Moreover, oil markets have been weighed down by a strong USD, which has rose against most other currencies this year, in the wake of rising interest rates.

The contract for December delivery was trading at Rs 3,606, down by 0.47 percent from its previous closing of Rs3,623.00, while the open interest  (OI) of the contract stood at 20,815 lots.

The contract for January delivery was trading at Rs3,637, down by 0.41 percent from its previous closing of Rs 3,652.  The OI of the contract stood at 1,778 lots on MCX.

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