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CRUDE OIL PRICES RISE AHEAD OF OPEC+ MEETING

Commodity prices traded the day mixed on Wednesday continuing the trend from previous session. Currently, Mentha oil stood as top gainer while Silver was top loser in early trade at MCX.

Crude Oil prices rose on today, paring overnight losses a day ahead of a meeting of OPEC and its allies, with investors betting the producers will largely agree to extend their supply curbs into May. Crude oil Apr future was trading up by 0.70% at Rs. 4486 per barrel, touched a high of Rs. 4503 per barrel. The Organization of the Petroleum Exporting Countries and allies, together called OPEC+, are set to meet on Thursday, following a month in which oil prices have whipsawed on concerns about extended pandemic lockdowns in Europe, slow vaccine rollouts and rising COVID-19 cases in India and Brazil, pitted against growing optimism on growth in the United States.

Natural Gas up by 0.36% to Rs. 193.30 per mmBtu in morning trade.

Gold prices have remained volatile while Silver May future traded lower.





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