Thursday, June 2, 2016

What Will be the effect of Crude oil by the meeting of OPEC

Commodity market today is quite an event for the day. OPEC is a key meeting today. The ECB's decision on interest rates is going to come. The ECB will decide on interest rates 5:15 PM. Thus, soon after, the weekly US unemployment figures will be released at 6 pm. So in terms of commodity and currency market today is very important. And crude oil or gold or silver today before around business is extremely small in scope.

The OPEC meeting has been much speculation in the global market. The speculation in the market that this meeting will also be no agreement to reduce production. Saudi Arabia has refused to cut production without Iran. Iran has consistently indicated to increase the production. Meanwhile MCX Crude oil trading around 3,315 with loss of 0.2 percent. 

If you want Advices for MCX Crude oil than you can Sold it for Short term.  


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