CAPITALSTARS MCX COMMODITY CRUDE OIL NEWS UPDATE : 01 October 2019
Energy Preview: Crude Falls Sharply, MCX Futures Under Rs 3900 Per Barrel
WTI
Crude oil futures tumbled yesterday amid continued corrective selling as fund
buying stayed lax. Large energy speculators decreased their bullish net
positions in the WTI Crude Oil futures markets last week, according to the
latest Commitment of Traders (COT) data released by the Commodity Futures
Trading Commission (CFTC) on Friday. The non-commercial futures contracts of
WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a
net position of 424,162 contracts in the data reported through Tuesday
September 24th. This was a weekly fall of -2,943 net contracts. Crude oil
speculators trimmed their bullish bets for a second straight week. WTI Crude
tested two and a half year low of $54 per barrel and recovered. The counter
currently trades at $54.53 per barrel, up 0.85% on the day. MCX Crude oil ended
at Rs 3880 per barrel, down 1.37% on the day.
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