Crude slips 2% to USD 87.5/bbl

By Gautam Broker, Research Analyst at CNBC-TV18

Commodity cues

The profit booking was seen across commodities. Crude was at a week low and Brent crude remained below USD 100/barrel. Nymex was down 2% to USD 87.5/bbl on Monday.

US natural gas saw a 5% decline. Crude inventories may rise by over 2 million barrels.

LME Copper was flat after a record of USD 10,160/tonne. LME Copper was below USD 10,000/t this morning.

Gold was flat at USD 1350/ounce.

Angel Comm advised to:
- Buy gold MCX April contract at Rs 20080 per 10 grams, with a target of Rs 20250 and keep a stoploss of Rs 19990.
- Sell crude MCX February contract at Rs 4040 per barrel, with a target of Rs 3960 and keep a stoploss of Rs 4085