Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Commodities

| More

Crude Oil - July 27, 2021 - Reliance Securities

Posted On: 2021-07-27 17:47:53 (Time Zone: UTC)


Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International oil prices ended mixed on Monday as traders weighed prospects for demand amid the spread of the delta variant of the coronavirus that causes COVID-19.

Brent ended with small gains, while WTI ended marginally in the red.

Domestic crude prices also flat on Monday, tracking international prices.

On the other hand, supply side traders expect global markets to remain in deficit despite a decision by OPEC and its allies to raise production through the rest of the year and kept downside in check.

Reports of a crackdown by China on crude importers also contributed to price pressures.

According to a Reuters report, Beijing's crackdown on the misuse of import quotas combined with the impact of high crude prices could see China's growth in oil imports sink to the lowest in two decades in 2021, despite an expected rise in refining rates in the second half.

International oil prices have started flat to marginally higher this Tuesday morning in Asian trade as investors await inventory data this week starting with data from API tonight and EIA tomorrow.

Technically, if WTI Crude Oil witnesses a breakout above $71.00 we could see a continuation of the bullish momentum up to $71.90-$72.45 levels. Support is at $71.30-$70.75 levels.

Domestic crude could start flat to marginally higher this Tuesday morning tracking a subdued start in international prices.

On the domestic front, MCX Crude Oil will continue its bullish momentum up to 5390-5455 levels. Support is at 5340-5300 levels.

NYMEX Natural gas prices rose on Monday continued to find support by warm weather in the U.S.

Domestic natural gas ended higher on Monday, tracking overseas prices.

Warmer than normal weather is expected to cover most of the United States over the next 6-10 and 8-14 days.

According to the National Oceanic Atmospheric Administration, there is one tropical storm in the Atlantic or Gulf of Mexico that has a 10% chance of becoming a tropical cyclone over the next 48-hours.

Natural gas consumption in the electric power sector drives total consumption higher. Total U.S. consumption of natural gas rose by 1.5% compared with the previous report week, according to data from the EIA.

NYMEX Natural Gas prices have started flat this Tuesday morning in Asian trade. However, downside could be capped as warm weather in the U.S. could buoy cooling demand.

Technically, NYMEX Natural Gas could trade in a range of $3.950-$4.200 levels.

Domestic natural gas could start flat this Tuesday morning, tracking overseas prices.

On the domestic front, MCX Natural Gas July holds a strong support near 297.00-300.00 levels. Resistance is at 305.00-307.00 levels.

Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

Copper - Weekly Wrap - Sep 18, 2021 - Reliance Securities

Crude Oil - Weekly Wrap - Sep 18, 2021 - Reliance Securities

Gold & Silver - Weekly Wrap - Sep 18, 2021 - Reliance Securities

Crude Oil - Sep 15, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 15, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 14, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 14, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Base Metals - Sep 13, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 13, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 13, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 9, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 9, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 8, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 8, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 7 , 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 7, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Base Metals - Sep 6, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 6, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 6, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Copper - Sep 4, 2021 - Reliance Securities

Gold & Silver - Sep 4, 2021 - Reliance Securities

Crude Oil - Sep 4, 2021 - Reliance Securities

Crude Oil - Sep 3, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 3, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 2, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 2, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Sep 1, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Sep 1, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Aug 31, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Aug 31, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - August 31, 2021 - Reliance Securities

Gold and Silver - August 31, 2021 - Reliance Securities

Base Metals - Aug 30, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Aug 30, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Aug 30, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - August 30, 2021 - Reliance Securities

Copper - August 27, 2021 - Reliance Securities

Crude Oil - August 27, 2021 - Reliance Securities

Gold and Silver - August 27, 2021 - Reliance Securities

Crude Oil - Aug 27, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Aug 27, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Aug 25, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude Oil - Aug 25, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold and Silver - Aug 25, 2021 - Reliance Securities

Crude Oil - Aug 24, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Gold - Aug 24, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Silver - August 23, 2021 - Reliance Securities

Crude Oil - August 23, 2021 - Reliance Securities

Gold - August 23, 2021 - Reliance Securities

Base Metals - Aug 23, 2021 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020