CRUDE OIL FUTURES SLIPPED AS THE DOLLAR STRENGTHENED ON GROWING EXPECTATIONS

At the MCX, Crude Oil futures for Dec contract was trading at Rs. 2877.00 Per Barrel, down by 0.69%, after opening at Rs.2878.00 Per Barrel, against a previous close of Rs. 2897.00 Per Barrel. It touched an intra-day low of Rs. 2846.00 Per Barrel and high of Rs.2908.00 Per Barrel in the future market.

Crude oil traded lower on Thursday as the dollar strengthened on growing expectations Democrat Joe Biden would win the U.S. presidential election but the Republicans would retain Senate control.

Natural gas futures traded weaker at Rs 226.20 per mmBtu on November 5 as participants increased their short positions as seen by the open interest.

Gold Future rose on Thursday as vote counting in the US showed Joseph Biden is most likely to be the President of the country.

Cotton futures rose to Rs 19720.00 per bale on November 5 as participants widened their positions as seen from open interest.

On Multi Commodity Exchange, Commodities like Silver, MCX Bulldex, CPO, Gold, GoldM, Gold Guinea, Gold Petal, Cotton futures were the gainers, gained by 2.49%, 1.49%,1.38%,1.28%,1.22%,1.04%,0.96%,0.31% respectively. While Commodities like Crude Oil, Natural Gas, Copper, Aluminium, Lead, MCXMetldex, Nickel futures were the losers with a loss of 0.69%, 0.48% ,0.37%, 0.35%, 0.13%, 0.06%,0.06% respectively.