At the MCX, Crude Oil futures for Dec contract was trading at Rs. 3179.00 Per Barrel, up by 1.60%, after opening at Rs. 3150.00 Per Barrel, against a previous close of Rs. 3129.00 Per Barrel. It touched an intra-day low of Rs. 3150.00 Per Barrel and high of Rs.3219.00 Per Barrel in the future market.
Oil prices extended gains on Monday as traders eyed a recovery in crude demand thanks to successful coronavirus vaccine trials, although prices were contained by renewed lockdowns in several countries. Sentiment was also bolstered by hopes that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, will keep crude output in check.
Metal indices traded on negative note on MCX on Monday. At the same time, most agri commodities were trading with cuts amid improving business outlook. But, Energy indices were trading higher in evening session.
Gold prices on Friday declined by 0.29% to Rs 50065.00 per 10 gram in futures trade and Silver prices stood as top loser in evening trading session, down by 1.42% to Rs 61275.00 per kg in futures trade tracking muted global cues.
On Multi Commodity Exchange, Commodities like Natural Gas, Crude oil futures were the gainers, gained by 2.45%, 1.60% respectively. While Commodities like Silver, Zinc, Lead, Mentha oil, CPO, Nickel futures were the losers with a loss of 1.42%, 1.01%, 0.94%, 0.70%, 0.66%, 0.39% respectively.