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Commodities
Crude Oil - June 11, 2021 - Reliance Securities
Posted On : 2021-06-12 11:43:28( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices are trading with small gains in a choppy trading on Friday early afternoon trade in Asia supported by a recovery in fuel demand in Europe, China and the United States.
Meanwhile, Reuters reported that Saudi Arabia, will supply full volumes of July-loading crude to its Asian customers but vaccination rollouts in certain economies will improve global economic activity and demand for the commodity and capped downside.
Technically, WTI Crude Oil could trade within the range of $68.90-$70.81 levels this Friday.
Domestic oil prices are trading marginally higher on Friday early afternoon trade, tracking overseas prices.
Technically, MCX Crude Oil June could trade on positive note where 5080-5100 holds a support and resistance is at 5155-5180 levels.
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