Crude oil may open in green zone tracking bounce back in international markets. Overall it can move in range of 5970-6050 in MCX. Brent swung between gains and losses near a three-day high before data that will probably show manufacturing contracted in China, the worlds second-biggest oil consumer.
Libya has become the smallest producer in the 12-member Organization of Petroleum Exporting Countries after unrest disrupted output and shipments. China will account for about 11 percent of global oil demand this year, compared with 21 percent for the U.S., according to the International Energy Agency in Paris.
Ukraine sought to dislodge pro-Russian rebels over the weekend from its eastern industrial heartland as violence also spread to Odessa, the country’s most important conduit to the Black Sea after Russia took control of Crimea last month. Natural gas may remain sideways in range of 276-286 in MCX.
www.punjiniveshonline.com
Libya has become the smallest producer in the 12-member Organization of Petroleum Exporting Countries after unrest disrupted output and shipments. China will account for about 11 percent of global oil demand this year, compared with 21 percent for the U.S., according to the International Energy Agency in Paris.
Ukraine sought to dislodge pro-Russian rebels over the weekend from its eastern industrial heartland as violence also spread to Odessa, the country’s most important conduit to the Black Sea after Russia took control of Crimea last month. Natural gas may remain sideways in range of 276-286 in MCX.
www.punjiniveshonline.com
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