Crude Oil - Jan 5, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International oil prices are trading marginally lower on Tuesday morning and early afternoon trade in Asia before deadlocked talks between major producers about potential changes in February output are set to continue later in the day.

Additionally, prices also remained under pressure amid fuel demand concerns due to new COVID-19 lockdowns. U.K. Prime Minister Boris Johnson ordered a new national lockdown in his country.

At the same time, rising tensions in the Middle East capped downside in oil prices.

Domestic oil prices are trading flat to marginally lower this Tuesday morning and early afternoon trade, tracking overseas prices.

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

Keywords