Crude Oil slumped to a 17-year low as coronavirus lock-downs cascaded through the worldslargest economies, leaving themarket overwhelmed by crateringdemand and a ballooning surplus of crude.
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MCX Crude Hit 1st Target 4310 2nd Target 4440 – Enjoy or Not – Neal Bhai Reports
MCX Crude Oil settled up 0.73% at 4272 as investors cheered progress in resolving the U.S.-China trade dispute and a decisive general election result in Britain. Prices seen supported by efforts by the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia to cut production.
Crude Oil prices Slip as Trade War Concerns Haunt Market
Crude Oil prices slipped for a second straight day on Tuesday as a slowing global demand outlook outweighed OPEC’s deal with associated producers last week to deepen output cuts in 2020.
Crude Oil Rises OPEC+ on Jan. 1 cut output by 1.2 Million Barrels per day (bpd), New Optimism on US-China Trade Deal
Crude Oil prices posted early gains as OPEC’s outlook for oil demand next year fuelled hopes that the producer group and its associates will keep a lid on supply when they meet to discuss policy on output next month.
U.S. Crude Oil Futures Below $63, Only Bloodbath – Neal Bhai Reports
U.S. Crude Oil Futures Tips – Keep Eye on Below $63 level, Only Bloodbath – Target $61—58, Just Watch Strong Support $63.