Tuesday 20 May 2014

CAPITAL STROKE COMMODITY UPDATE 20 MAY 2014: MCX CRUDE OIL


CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6100 R1-6050 S1-5950 S2-5900

Crude oil ended with gains as ongoing worries over a disruption to supplies from Russia and Libya supported prices.

Libya's output has fallen to about 200,000 barrels per day from 300,000 bpd earlier last week, far below the 1.4 million bpd produced last year.

An end to a month-long blockade of major oil ports in eastern Libya last month had raised the prospect of higher crude exports and weighed on oil prices.



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