Free MCX Crude Oil Tips Today: Crude Oil yesterday settled up by 2.4% at 4659 after a report from the U.S. National Hurricane Centre that a storm forming over the Western Gulf of Mexico will likely become a cyclone over the weekend raised concerns about possible disruptions in production.
Oil in New York extended gains to erase a weekly loss, garnering support from a recovery in equities and a softer dollar.
Oil Trades rose toward $67 a barrel as weaker demand from virus-ravaged India partially offset optimism over the global economic recovery.
Crude oil edged higher toward $64 a barrel, aided by a weaker dollar, as traders monitored a patchwork demand recovery from the pandemic.
Since the OPEC outcome, which on the whole had been a surprise, crude oil prices have remained relatively rangebound as the market battles the cross-currents of a stronger economic recovery with a resurgence of virus cases.