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Pre Session Commentary
Energy Preview: Crude Supported, MCX Futures End Above Rs 4K
03-Dec-19   09:22 Hrs IST

WTI Crude oil rebounded but the gains were limited on global trade concerns. The US President Donald Trump reinstated tariffs on steel and aluminum from Argentina and Brazil, triggering a heavy slide in US equities. WTI Oil is quoting at $56.16 per barrel, up marginally on the day. The commodity plunged more than 5% on Friday amid a hefty slide in thin Thanksgiving holiday trading volume and the resignation of Iraq's prime minister after weeks of protests in the country. MCX Crude oil futures fell 5% as well on Friday and closed just above at Rs 4000 per barrel, up 0.50% on the day.

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