CRUDE OIL SLIPPED ON SURGING INFECTIONS IN EUROPE AND THE UNITED STATES

At the MCX, Crude Oil futures for Dec contract was trading at Rs. 3087.00 Per Barrel, down by 1.18%, after opening at Rs.3117.00 Per Barrel, against a previous close of Rs. 3124.00 Per Barrel. It touched an intra-day low of Rs. 3064.00 Per Barrel and high of Rs.3118.00 Per Barrel in the future market.

Crude Oil traded lower on Thursday as traders tempered expectations of an early release of a COVID-19 vaccine and the IEA raised doubts about a quick demand rebound amid surging infections in Europe and the United States.

Natural gas futures traded firm at Rs 225.70 per mmBtu on November 12 as participants increased their long positions as seen by the open interest.

Gold Futures rose by 0.49% at Rs.50415.00 per 10 gms on Thursday as a positive trend seen in the international spot prices.

Cotton futures traded flat at Rs 19,810.00 per bale on November 12 as participants widened their position as seen from open interest.

On Multi Commodity Exchange, Commodities like Natural Gas, CPO ,Gold, GoldM, MCX Bulldex, Gold Guinea, Aluminium, Copper ,Silver, Gold Petal, Mentha Oil futures were the gainers, gained by 2.97%, 0.54%, 0.49%, 0.45%, 0.45%,0.41%,0.38%,0.38%,0.37%,0.34%,0.23% respectively. While Commodities like Crude Oil, Nickel, Cotton, Zinc, MCXmetldex futures were the losers with a loss of 1.18%,0.39%,0.30%,0.29%,0.10% respectively.