Commodity Updates For Monday Market

mcx commodity tips

Crude oil futures ended higher in the domestic market on Friday after the Gross domestic product in the euro zone rose more-than-expected in the last quarter signaling improving sentiment in the region which raised the demand outlook for the fuel. In a report, Euro stat said that GDP increased to a seasonally adjusted 0.3 %, from 0.2 % in the preceding quarter. Sentiment improved further after Germany’s gross domestic product rose more-than-expected in the last quarter signaling weak sentiment in the region which further raised the demand outlook for the fuel. In a report, Statistisches Bundesamt Deutschland said that German GDP increased to a seasonally adjusted 0.7 %, from 0.1 % in the quarter. Oil may rise as investors now look ahead to upcoming US data which may determine the health of the world’s largest economy. At the MCX, Crude oil futures, for the February 2015 contract, ended at Rs 3,294 per barrel, up by 3.91 per cent, after opening at Rs 3,175, against the previous close price of Rs 3,170. It touched an intraday high of Rs 3,330 till the ending.