(Time Zone: Arizona, USA)
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices are trading marginally higher this Monday morning and early afternoon trade in Asia.
However, upside remained capped as renewed COVID-19 lockdowns raised fresh concerns about global fuel demand.
Investors will also be watching out for any fresh cues from the resumption of talks between the United States and Iran on a nuclear accord.
Technically, WTI Crude Oil is trading on a positive note above $52.20 levels where it could trade in a range of $51.25-$52.92 levels.
Domestic oil prices are trading marginally higher this Monday morning and early afternoon trade, tracking overseas prices.
Indian markets are shut tomorrow on account of Republic Day holiday.
Technically, MCX Crude Oil February is trading above 3820 could see some sideways to marginal upside momentum upto to 3880 levels where support holds near 3780-3730 levels.
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