SEE MORE MCX TIPS UPDATE VISIT US www.marketmagnify.com/bullion-tips.php
Crude oil futures soared by almost 9 per cent in the domestic market on Friday, marking the biggest single-day gain in seven years overseas as investors cheered speculation of coordinated production cuts by the OPEC.
A cartel that accounts for about 40 per cent of global crude supplies, are preparing to cooperate on possible output cuts. He added that while Non-OPEC members such as the US were being forced to lower output due to falling oil prices.
Any OPEC deal will need the approval of Saudi Arabia, OPEC’s biggest crude exporter and their prime policy maker.
A drop in the number of rigs drilling for oil in the US signaled lower production ahead, supporting sentiment. Baker Hughes said that US oil drilling count fell by 28 to 439 last week.
Epic Research recommends for today Crude oil trading range is 2469-2643. For more live crude trading tips you can visit our blog.
ReplyDeleteStock advisory tips CASH CALL- BUY VOLTAS ABOVE 341 TGT 344,349 SL 336 BELOW
ReplyDeleteSensex appreciates by over 250 points as gains from Telecom, Auto, FMCG, and Banking sectors offer an upward push. Infratel continues to rise.CapitalStars
ReplyDelete