Commodities » Energy
Nymex crude oil prices closed at $73.91/bbl yesterday.
September 2, 2010, Thursday, 19:00 GMT | 14:00 EST | 23:30 IST | 02:00 SGT
By Mr. Naveen Mathur, Reena Walia Nair (Angel Broking)
MARKET RECAP
Crude oil prices gained by 2.8% on the Nymex to close at $73.91/bbl. Oil prices hit an intra-day high of $74.48/bbl yesterday. On the MCX platform, crude oil prices gained 1.2%, after touching an intra-day high of Rs.3496/bbl.
OUTLOOK
Crude oil prices will take cues from the movement in the DX today. The DX is expected to trade with the negative bias today and this factor will act as a supportive factor for the crude oil prices today. Moreover, revival in the equity markets will also support the commodity prices today.
Natural gas prices will take cues from crude oil prices today.
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