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CRUDE OIL PRICES RISE ON DECLINE IN U.S. CRUDE INVENTORIES

At the MCX, Crude oil futures for Jul 2019 contract was trading at Rs. 4152.00 per barrel, up by 0.87 %, after opening at Rs. 4125.00 per barrel, against a previous close of Rs. 4116.00 per barrel. It touched an intra-day low of Rs. 4125.00 per barrel and high of Rs. 4167.00 per barrel.

Oil prices rose on Thursday in Asia after data showed U.S. crude inventories fell last week. The Energy Information Administration (EIA) said crude oil inventories plummeted by 9.50 million barrels in the week to July 5. Forecasts predicted a stockpile draw of 3.08 million barrels, after a decline of 1.09 million barrels in the previous week.

Gold prices in India surged today after the yellow metal rebounded in global markets. Domestic silver prices also followed global trend.

MCXCOMDEX opened with flat note at 3713.33 and traded up by 0.40% at 3728.15.Commodities like Cardamom, Natural Gas, Crude oil, Mentha oil, Gold, CPO, Silver, Nickel were stood as top gainers, gained 4.00%, 1.44%, 0.87%, 0.73%, 0.46%, 0.32%, 0.29%, 0.21% respectively. On the other hand, Aluminium, Cotton, Lead, Copper, Zinc futures were stood as top losers, lose by 1.07%, 0.52%, 0.51%, 0.46%, 0.23% respectively.

Sensex and Nifty ended higher tracking positive Asian markets. Nifty50 today ended at 11582.90 level, up 84 points from the previous close. Sensex ended at a level of 38823.11, up 266.07 points from the last close.



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