Gold Silver Reports — Technically Crude oil market is under fresh selling as market has witnessed gain in open interest by 18.97% to settled at 24371.
Crude MCX Under Selling Support Key Level at 2817
crude oil
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Iran Will Cut Benefits on Oil Sales to Indian State Refiners
Gold Silver Reports ✅ — Iran will cut some benefits to Indian state-run refiners on crude purchases after the South Asian country decided to reduce the amount of oil it buys from the Persian Gulf nation, people with knowledge of the matter said.
MCX Crude Oil Expected Trading Zone 3270-3410 March 06
Technically Crude oil market is getting support at 3306 and below same could see a test of 3270 level, And resistance is now likely to be seen at 3366, a move above could see prices testing 3410.
Crude Oil Speculative Longs Down For Fifth Week In Row
Gold Silver Reports — Large speculators and commodity traders decreased their net positions in the WTI crude oil futures markets last week for the fifth straight week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
CRUDE OIL FUTURES POSTS THIRD STRAIGHT WEEKLY LOSS
Gold Silver Reports — Crude oil futures edged higher Friday, but posted a third straight weekly loss amid further signs of robust U.S. production. Baker Hughes said the number of active U.S. rigs drilling for oil rose by 21 to 652 rigs this week, having surged higher just about every week this winter. U.S. crude oil inventories are already at record highs. The EIA said Wednesday that stockpiles rose another 4.5 million barrels last week.
US is Swimming in Crude Oil
Gold Silver Reports — The United States has got a lot of crude oil on its hands right now. According to data released by the US Energy Information Administration (EIA), stockpiles swelled by a further 4.95 million barrels to 533.1 million barrels.
CRUDE OIL SPECULATIVE LONGS DOWN FOR THIRD STRAIGHT WEEK
Gold Silver Reports — Large speculators and traders continued to cut back on their bullish net positions in the WTI crude oil futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.