Monday 8 September 2014

CAPITAL STROKE UPDATE 9-September-2014 : MCX CRUDE OIL



CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-5750 R1-5650 S1-5500 S2-5420

Crude oil prices dropped as fear of OPEC output cuts helped the market recover from weak Chinese and U.S. data.

Falling oil prices and abundant supplies are causing concern among some members of the Organization of the Petroleum Exporting Countries.

Libya's oil output has risen to 740,000bpd, NOC said, an increase from 725,000 bpd that has been fueled by the reopening of several oil export ports.

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