Anand Rathi gives out its game plan on crude and copper

Ritesh Gandhi, senior research analyst, Commodity & Currency, Anand Rathi Commodities spoke to CNBC-TV18 about his game play in the commodity space. Check out his comments.

On Crude
With crude, the focus is back on the Middle East and recently, after US troops have left Iraq, we had a lot of political instability in that region. Yesterday, we had violence and bombings in Iraq. Separately, Iran and the entire talk of sanctions on the country from western nations to curb it's nuclear ambitions opens up the entire threat of Iran closing down the street of Hummus, which is a key channel for about 35% of the sea-borne traded oil in the world.
So with this risk, there is a significant rally that could come in if prices manage to break out above that USD 103 mark for WTI.
Inventories in the US are also on the decline and we saw a fall of over 10 million barrels last week. Seasonally, we do see a draw this time, but this was a major fall, almost the most in a decade and is also cushioning prices.
So moving ahead, if prices sustain above even USD 100 for the day, we