Crude Oil - June 16, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International oil prices extended gains on Wednesday early afternoon trade in Asia supported by falling stockpiles and a recovery in demand.

Official government data is due out tonight.

Technically, WTI Crude Oil could see sideways to marginal upside momentum up to $72.55-$73.03 levels. Support is at $71.60-$71.04 levels.

Domestic oil prices are trading higher on Wednesday early afternoon trade, tracking overseas prices.

Technically, MCX Crude Oil June could continue to trade on bullish momentum where 5300-5275 holds a support and resistance is at 5330-5355 levels.

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Source : Equity Bulls

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