CAPITAL STROKE COMMODITY UPDATE 1 JULY 2014 :: MCX CRUDE OIL

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6500 R1-6420 S1-6280 S2-6220 .Crude oil dropped as fears that the Iraqi insurgency will affect the country's major oilfields continued to wane.OPEC's oil output has fallen in June from May's three-month high as fighting in Iraq closed its largest oil refinery and technical problems in southern exports.The reopening of a port in Libya and an easing of tensions over the Ukraine crisis also weighed on oil.

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