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Crude Oil - April 12, 2021 - Reliance Securities
Posted On : 2021-04-12 18:38:08( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices are trading marginally in the red this Monday early afternoon trade in Asia amid demand and rising supply concerns.
Meanwhile, a deal between U.S. and Iran would also potentially bring an additional 2 million bpd of supply into the market and weighed on prices.
Technically, WTI Crude Oil supports are at $59.00 and a break below could pull prices to $58.40. Resistances remain at $60.00 and $60.40.
Domestic crude are trading marginally in the red this Monday early afternoon trade, tracking international prices.
Technically, MCX Crude Oil April supports are at 4400 and a break below could pull prices to 4320. Resistances remain at 4470 and 4500.
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