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Crude Oil - Jan 5, 2021 - Reliance Securities

Posted On: 2021-01-05 09:58:30 (Time Zone: Arizona, USA)


Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International oil prices are trading marginally lower on Tuesday morning and early afternoon trade in Asia before deadlocked talks between major producers about potential changes in February output are set to continue later in the day.

Additionally, prices also remained under pressure amid fuel demand concerns due to new COVID-19 lockdowns. U.K. Prime Minister Boris Johnson ordered a new national lockdown in his country.

At the same time, rising tensions in the Middle East capped downside in oil prices.

Domestic oil prices are trading flat to marginally lower this Tuesday morning and early afternoon trade, tracking overseas prices.

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Source: Equity Bulls

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