MCX Crude Oil 1st Target Hit High 7715, Profit 40,000 in 2 Lots

Crude Oil prices were mixed on Monday as investors balanced expectations the OPEC will cut output to support prices against concerns sparked by Federal Reserve Chairman Jerome Powell saying the United States will face slow growth “for some time”.

Today's crude oil profit
  • Save
Today’s crude oil profit

MCX CRUDE OIL HIGH 7715

200″ POINTS

PROFIT 40,000 IN 2 LOTS

US West Texas Intermediate (WTI) crude CLc1 futures rose 2 cents to $93.08 a barrel at 0003 GMT, adding to Friday’s gain.

Brent crude LCOc1 futures were down 27 cents, or 0.3%, at $100.72 a barrel, trimming gains from the previous session.

In a speech on Friday, Powell said curbing inflation “is likely to require a sustained period of below-trend growth” and would “bring some pain to households and businesses”, which rattled equity markets while boosting the dollar. Read full story

The dollar index continued to climb on Monday to 109.16, up 0.3% in early trade. A stronger dollar weighs on oil as it makes crude more costly for buyers holding other currencies.

However, oil prices have been buoyed by talk from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, that they could cut output in order to balance the market.

The United Arab Emirates is aligned with Saudi thinking on output policy, a source with knowledge of the matter told Reuters on Friday, while the Omani oil ministry also said it supports OPEC+ efforts to maintain market stability. 

Sources last week said OPEC would consider cutting output to offset any increase from Iran should oil sanctions be lifted if Tehran agrees to revive a nuclear deal.

“Traders’ focus will shift back to the supply-demand factor, with the US-Iran nuclear negotiation in progress,” CMC Markets analyst Tina Teng said.

Also supporting prices are signs of rising demand, partly due to higher natural gas prices in Europe spurring power generators and industrial users to switch to diesel and fuel oil, ANZ Research analysts said in a note.

सारे ट्रेड में आपको लोस ही हो रहा है??
तो ज्वाइन करिए आज ही हमारा ग्रुप फ्री में लगातार प्रॉफिट के लिए जल्दी करिए.
लिंक नीचे दिया गया है

EQUITY MARKET 👇👇👇
https://t.me/banknifty_nifty_NealBhai_Tips

MCX LINK 👇👇👇
https://t.me/Neal_Bhai_MCX_Tips

Technical Power of CFA’s
 (CHARTERED FINANCE ANALYST)
“No Magic, No Miracle, Just Power of Level”

Neal Bhai Reports (NBR) By CFA’s Technical Team
Mobile No. 9582247600 & 9899900589

MCX Crude Oil 1st Target Hit High 7698, Profit 36,000 in 2 Lots
  • Save

Leave a Comment

Copy link