Free Accurate MCX Crude Oil Tips -100McxTips
Find free mcx crude oil tips, oil trading tips and crude Intraday tips with 85-90% accuracy here at 100mcxTips advisory.
Brent crude futures rose more than 2 percent above $62 a barrel on Monday as Asian markets firmed into a holiday-shortened week and investors became confident there would be no further substantial price loss in the run-up to the new year.
Saudi Arabia’s powerful oil minister, Ali al-Naimi, said on Sunday that lower crude prices would help demand by stimulating the economy and slow down supply growth.
Today, Asian stocks rose, with the regional index headed for its steepest three-day advance in almost two months, as commodity shares increased amid an extended rally in crude oil. The dollar matched a two-year high versus the euro. The MSCI Asia Pacific Index climbed 0.7% by 1:49 pm in Tokyo, bringing its gain since 18 December to 3.1%.
Cairn India stock moved higher by 3% to Rs 248, extending its 4% gain in past two trading sessions on BSE. Higher crude oil prices will result in higher realizations from crude sales for oil exploration firms like Cairn India.
Brent rose 74 cents to $62.12. It is down 46 percent from the year’s peak in June above $115 per barrel. U.S. crude was up 66 cents at $57.79 a barrel.
“After a sharp decline of the week, crude oil has shown a mild recovery in domestic market. MCX Crude prices have jumped nearly 2 percent and the price is trading at Rs 3680. Crude got support from the international market boom.” 100McxTips Commodity analysts said.
Analysts also said they hoped comparatively low price volatility for the rest of the year, as traders begin to loosen up its 2,014 positions.
DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)
