Crude futures down 0.61% in evening trade

10:35' PM - Friday, 28/06/2019

The value of the July contract traded so far is Rs 5,159.08 crore and August contract saw value of Rs 71.58 crore.

Crude oil futures were down 0.61 percent at Rs 4,090 per barrel on June 28 after US Special Representative for Iran Brian Hook said that the US will slap sanctions on countries that import oil from Iran.

On the Multi Commodity Exchange, crude oil for delivery in August contracts was trading lower by Rs 29, or 0.70 percent at Rs 4,108 per barrel with a business turnover of 618 lots.

The crude for delivery in July contracts also edged lower by Rs 22, or 0.53 per cent at Rs 4,092 per barrel with a business volume of 22,440 lots.

The value of the July contract traded so far is Rs 5,159.08 crore and August contract saw value of Rs 71.58 crore.

MCX Crude price is likely to trade sideways with an intraday support at Rs 4,060 whereas resistance is at Rs 4,165 levels. Price break on either side of the given range will give further direction, according to Motilal Oswal.

At 10:20 (EST), West Texas Intermediate crude fall 0.32 percent to $59.11 per barrel, while Brent crude, the international benchmark, was up 0.14 per cent to $66.64 per barrel. - Source: Money Control -

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