Crude oil trades around USD 92/barrel

By Gautam Broker, Research Analyst at CNBC-TV18

Commodity cues

CRB Index gained almost 2% on Monday and was close to 28-month highs, led by crude. Brent crossed USD 100/barrel for the first time since 2008 and hit a high of 101.73/barrel.

Nymex crude saw a high of USD 92.84/barrel. Currently it is trading just below USD 92/bbl.

OPEC is concerned by Egypt unrest and sees no immediate need for increasing output.

Dollar Index was below 78 mark.

Gold was marginally in the green. SPDR holdings rose for first time in 7 days.

Positive US economic data aided base metals. LME Copper was at a record above USD 9810/tonne. Shanghai Copper was at its highest in 4 years.

Data to watch
-ISM Manufacturing Index
-Construction Spending