Crude oil futures trading flat in the afternoon on October 22
The value of the November contract traded so far is Rs 2,497.09 crore, while the December contract saw value of Rs 11.53 crore
October 22, 2019 / 03:11 PM IST
Crude oil futures turned choppy and were trading flat at Rs 3,813 per barrel on October 22. The subdued overseas trend was due to the global economic slowdown and despite signs of progress in the US-China trade talks.
On the Multi Commodity Exchange (MCX), crude oil for delivery in the December contracts climbed by Rs 9 or 0.24 percent, to Rs 3,833 per barrel with a business turnover of 283 lots.
The crude for delivery in the November contracts gained by Rs 7 or 0.18 percent, to Rs 3,817 per barrel with a business volume of 21,058 lots.
The value of the November contract traded so far is Rs 2,497.09 crore, while the December contract saw value of Rs 11.53 crore.
MCX Crude Oil has support at Rs 3,760-3,730, whereas resistance remains at Rs 3,860-3,890, according to Motilal Oswal. The brokerage firm said bias remained sideways for the day.
In the international market, Brent crude oil futures were marginally up by 17 cents or 0.29 percent, at $59.13 a barrel by 0900 am GMT, while in the US West Texas Intermediate (WTI) crude futures was up by 10 cents or 0.2 percent, at $53.41 per barrel.