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As on: Nov 19, 2018 03:20 PM
Crude Oil Gains After Recent Losses
07-Nov-18   19:43 Hrs IST
MCX Crude oil futures spiked 1% to Rs 4552 per barrel today as global prices firmed up after recent losses. WTI futures dropped near a fresh five month low yesterday amid rising production and US sanction waivers that allow Iran's biggest customers to continue buying its supplies. However, bargain buying kicked in today ahead of the weekly US crude oil inventories data and the Federal Reserve meet. European stocks have opened strongly after the US midterm results came in largely as anticipated with the Democrats taking back the House of Representatives and the Republicans holding onto the Senate. Major indices are up around 1% on the day. the WTI Crude futures are up 0.74% at $62.70 per barrel.

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