CAPITALSTARS MCX COMMODITY CRUDE OIL NEWS UPDATE : 07 October 2019

Energy Preview: WTI Crude Rises 1%

Crude oil futures edged up on bargain buying in the last session. WTI Crude oil futures fell to a two month low earlier in the week as equities slipped. However, an impressive jump in US markets on Friday boosted oil and WTI Crude oil futures closed $52.98 per barrel, up 1% on the day. MCX Crude oil futures closed at Rs 3740 per barrel, up 0.32% on the day after enduring heavy losses in the last session. Global central banks are likely to be tilted towards an easy money mode given the tepid economic growth and lax reading on inflation. This can support risky assets in the near term.

Inflation in the OECD area slowed in August on volatile food and energy prices, data from the Paris-based Organization for Economic Cooperation and Development showed Thursday. Annual inflation slowed to 1.9% in August from 2.1% in July. A similar lower rate was last seen in June 2017. Energy prices declined 1.8% and food price inflation eased to 1.7% from 2.1%. Excluding food and energy, core inflation was stable at 2.3% in August

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