Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessMarketsBrent crude below $112/bbl

    Brent crude below $112/bbl

    Dollar strength, eco concerns put weigh on crude, base metals. WTI was down over 1%; Brent was below $112/bbl.

    May 23, 2011 / 17:29 IST

    By Gautam Broker, Research Analyst at CNBC-TV18


    Dollar Index was close to 76. Euro was at a record low versus Swiss Franc. Euro sees a low of below 1.41.
     
    Fitch has downgraded Greece further. S&P has revised Italy's outlook to negative.
     
    Dollar strength, eco concerns put weigh on crude, base metals. WTI was down over 1%; Brent was below $112/bbl.
     
    Hedge funds have cut exposure to oil. Gold is moving higher despite dollar. Spot Gold sees a high of over $1518/oz. LME Copper was below $9000/tonne.


    CRUDE MCX JUNE
    Admisi recommended Buy Crude MCX June at Rs 4535 with stop Loss of Rs 4500 for a target of Rs 4585.


     

    first published: May 23, 2011 08:26 am

    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!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347