Date: 24.01.2012
Goldennifty said, MCX Crude oil futures were flat in the Asia electronic trades on Tuesday after surging nearly 1.5% yesterday as the European Union imposed an import ban on Iranian oil, leading to concerns about supplies.
Today the WTI light sweet oil futures are trading at $99.56 down 2 cents. MCX Crude for March delivery gained $1.25, or 1.3%, to end at $99.58 a barrel on the New York Mercantile Exchange.
A heavy week of earnings, including reports from Apple, Yahoo, Ford, Netflix and McDonalds, will vie with a two-day Federal Reserve meeting for investor’s attention next week.
MCX benchmark crude futures may start todays session below Rs 5000 levels with support around Rs 4960 levels. www.goldennifty.com
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