MCX Crude Target Price: Having failed to resist above the $60 level, WTI (futures on NYMEX) fell sharpy to $59.36 before recapturing the $59.50 threshold.
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Crude Oil set for weekly loss in wild week with Suez ship still stuck
Crude Oil Futures in New York edged higher Friday but are still down more than 4% this week after U.S. coronavirus cases started to rise again and some European countries renewed lockdowns in a setback for the recovery.
MCX Crude Oil Tips : Buy Above 3920 Target 4120—4330
- Crude Oil gained after major producers showed they were cutting crude output in line withtheir commitments on restraint.
- Russia’s January oil output up 120,000 bpd to 10.16 mln bpd.
- Tight oil-market in firsthalf could push crude to $65, says Goldman.