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Commodity

Commodity Analysis

End Session Commentary

 
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MCX Crude supported around Rs 5300 per barrel
(16-Apr-2025, 17:57 Hours IST)  
WTI Crude oil futures are holding around $62 per barrel as mixed to weak equites are capping upside for the counter. Oil is still well off its four-year lows as markets are trying to understand the broad demand trends amid volatile trade conditions. Extremely weak US dollar is supporting the counter after recent losses. MCX Crude oil is currently quoting at Rs 5308 per barrel, up 0.80% on the day after hitting a high of Rs 5325 per barrel. Meanwhile, in Asia, China's Shanghai Composite index moved up 0.26%. Hong Kong's Hang Seng index slumped 1.91%. Japan's Nikkei index lost 1%. European stocks eased today. German DAX index dropped around half a percent. The US stocks bounced back and forth across the unchanged line before eventually closing modestly lower yesterday. The Dow dipped 0.4%.

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