Visitors Now:
Total Visits:
Total Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

MTECHTIPS:-Crude Jumps 5% On MCX To End Above Rs 3300 Mark

Tuesday, November 22, 2016 0:39
% of readers think this story is Fact. Add your two cents.

(Before It's News)

MTECHTIPS:-Crude Jumps 5% On MCX To End Above Rs 3300 Mark

B4INREMOTE-aHR0cHM6Ly8zLmJwLmJsb2dzcG90LmNvbS8tOUJPMHZVR01BLTAvV0RQekVhU3ppd0kvQUFBQUFBQUEtMEEvTzl0MU1zNFNBQkl3ZlRxck9TQ0hsY3U5SmlsdkJjTWNRQ0xjQi9zMTYwMC9jcnVkZSUyQm9pbCUyQjQuanBn

 

 

MTECHTIPS- Crude spiked sharply yesterday amid renewed OPEC worries. WTI futures soared more than 4% as a rally from three month low extended. Rising US equities also boosted sentiments. MCX Crude also added more than 4% and ended above Rs 3300 per barrel levels. Oil has been trying to recover in last few days after the drubbing in first half of November, Large speculators and traders cut their net bullish positions for a fifth straight week in the WTI crude oil futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial contracts of WTI crude futures, traded by large speculators and hedge funds, totaled a net position of 276,326 contracts in the data reported through November 15th. This was a weekly change of -1,213 contracts from the previous week which had a total of 277,539 net contracts. The WTI speculative positions are now under the 300,000 net position for a second straight week and have declined to the lowest overall bullish level since August 9th. The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, raised their net position for a third week to a total of -277,574 contracts last week. This is a weekly change of 21,994 contracts from the total net of -299,568 contracts reported the previous week.

 

WWW.MTECHTIPS.COM

 

07489294118-119

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.