Kotak Commodity has come out with its report on Crude Oil. As per the research firm Crude may trade in a narrow range amid mixed cues and ahead of some important events.
NYMEX crude trades weaker Monday extending last week 1.6% slide. Crude oil started last week on firm note an went on to hit a high of $102.44/bbl, the highest level seen since Nov.17 but shed all the gains to hit a low of $97.36/bbl on Friday. Crude oil traded in a narrow range earlier in the week amid stability in equity and currency markets ahead of the outcome of ECB meet and EU summit. Also supporting prices was tensions relating to Iran and expectations of drop in US crude oil stocks. Market sentiments were dampened after S&P put 15 euro-zone nations and EFSF fund on a negative watch and following weaker US and China services PMI.
However this was counterbalanced by reports that Germany and France are working out differences. Meanwhile, IMF
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
Read More
