MCX Crude Oil Outlook - In today’s session, we expect crude oil prices to trade on a positive note on the back of upbeat global market sentiments along with hopeful statement from the ECB President. Additionally, weakness in the DX will also help upside support in crude oil prices. However, appreciation in the Indian Rupee will cap sharp gains on the MCX.
MCX Natural Gas Trend - MCX Natural Gas July contract rose around 0.2 percent and closed at Rs.172/mmbtu after touching an intra-day high of Rs.174.9/mmbtu in yesterday’s trading session. However, further upside movement in prices was capped on the back of appreciation in the Indian Rupee.
