CRUDE OIL RISES ON ESCALATING U.S.-IRAN TENSIONS; GOLD SLIPS ON LOW SPOT DEMAND

At the MCX, Crude oil futures for Jun 2019 contract was trading at Rs. 4454.00 per barrel, up by 1.23 per cent, after opening at Rs. 4430.00 per barrel, against a previous close of Rs. 4400.00 per barrel. It touched an intra-day low of Rs. 4422.00 per barrel and high of Rs. 4461.00 per barrel.

Crude oil prices rose on Tuesday on escalating U.S.-Iran tensions and amid expectations that OPEC producers will continue to curb supply this year.

Gold traded in the negative territory in futures trade on Tuesday as low demand by jewellers at the spot market weighed on the yellow metal.

MCXCOMDEX opened with positive note at 3725.82 and traded up by 0.44 per cent at 3735.61. Commodities like Crude oil, Nickel, Lead, Zinc, Cotton, Aluminium, Copper were stood as top gainers, gained by 1.23%, 0.74%, 0.56%, 0.49%, 0.42%,0.34% respectively. On the other hand, Cardamom, Mentha oil, Natural Gas, CPO, Silver, Gold futures were stood as top losers, lose by 2.79%,1.29%, 0.86%, 0.51%, 0.23% respectively.

NSE Nifty declined 119.15 points or 1.01% to 11709.10, and BSE Sensex ended with a loss of 382.87 point or 0.97% to 38969.80.