Crude oil commodity at NYMEX and Brent saw good fall on Wed. with poor inventory numbers from the US and new update from OPEC region inflicting negativity. WTI March expiry contract dropped 2.35 Per cent to Rs 48.85/barrel while even touched poorer levels of $48/barrel while in India, we saw extensive failures of 2.9 Per cent at MCX and expected that we may see decent gap-up opening today. For Brent, failures were steeper yesterday as the commodity dropped 3.15% to $54.65/barrel mark.
Mcx Crude oil Technical Comment for Day
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