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OIL JUMPS THE MOST EVER AFTER DRONE ATTACK CUTS SAUDI SUPPLIES

At the MCX, Crude oil futures for Sep 2019 contract was trading at Rs. 4318.00 per barrel, up by 10.29 %, after opening at Rs. 3948.00 per barrel, against a previous close of Rs. 3915.00 per barrel. It touched an intra-day low of Rs. 3948.00 per barrel and high of Rs. 4335.00 per barrel.

Oil prices skyrocketed after drone attacks on Saudi oil infrastructure. Crude oil surged above 10% in domestic market in intra-day trade. Oil prices made their biggest jump since the Gulf War on Monday after President Donald Trump warned that the US was "locked and loaded" to respond to attacks on Saudi oil infrastructure that Washington blamed on Iran.

Gold and silver prices in India jumped sharply tracking higher global rates and a softer rupee.

MCXCOMDEX opened with positive note at 3933.16 and traded up by 3.04% at 4046.52.Commodities like Crude oil, Cardamom, Natural gas, Silver, Gold, CPO, Zinc, Lead, Aluminium, Cotton were stood as top gainers, gained 10.29%, 4.00%, 3.33%, 2.43%, 1.39%, 1.03%, 0.43%, 0.38%, 0.21%, 0.10% respectively. On the other hand, Natural Gas, Mentha oil, Copper futures were stood as top losers, lose by 1.50%, 0.89%, 0.17% respectively.

Equity market ended in the negative territory on Monday as oil prices surged the most in 28 years in the intra-day trade following attacks on key role oil producer Saudi Arabia’s crude facilities over the weekend. Counters such as oil marketing companies (OMCs), tyre, paint and aviation stocks tumbled up to 7 per cent following the development. At close, Sensex lost 261.68 points or 0.70% to settle at 37123.31 and Nifty slipped 72.40 points or 0.65% to settle at 11003.50 levels.



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