Commodities » Energy
Nymex crude oil prices remain unchanged at $78.98/bbl on Monday
July 27, 2010, Tuesday, 09:06 GMT | 04:06 EST | 13:36 IST | 16:06 SGT
By Mr. Naveen Mathur, Reena Walia Nair (Angel Broking)
MARKET RECAP
Crude oil prices remained unchanged to its previous close of $78.98/bbl on the Nymex yesterday. On the MCX platform, crude oil prices ended in the red to close at Rs 3707/bbl.
OUTLOOK
Crude oil prices will take cues from the inventory data to be released by the API today. However, the DX is expected to remain weak today and this factor will provide support to the crude oil prices. A weaker DX makes the dollar-denominated crude oil prices look attractive for holders of other currencies.
Support for NYMEX September Crude Oil is seen at $78.25/$77.50 levels & resistance at $79.55/$80.10 levels.
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