Crude oil futures declined sharply on reports that the Iranians are considering direct talks with the US. In addition, group of western nations will likely be meeting with Iran in Kazakhstan at the end of the month to resume nuclear deliberations. On price front, regardless of the recent decline, WTI Oil prices are trading above the crucial support level of US95/bbl, which still conveys a probability of prices moving close to US$100/bbl. Crude oil futures prices fell Monday, giving back nearly all of last week's gains, as the dollar rose against other major currencies. A strong dollar makes oil more expensive for buyers in other currencies, which often weighs on crude prices..
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During early Asian session, crude oil futures prices are trading below $90.50/bbl with loss of more than 0.20 cents in Globex platform. The trend for oil prices is expected to remain sluggish for the day as the nuclear program talk between Iran and P5+1 country has.....
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Crude Oil markets breathed a sigh of relief on news of the intervention of Norway govt to call off the strike and crude prices dropped in early Asian trade. But still there is concern over Iran and that can boil the oil price again.....
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Crude oil prices declined, as stalled negotiations on a deal to restructure Greece's debt revived concerns about the economy while the risk that Iran might quickly halt crude exports to Europe limited strong losses....
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The MCX Crude Oil Slip on Monday Morning due to fear of Greece default and sell of in equity market. The dealers are waiting for the settlement among Iran, Greece and other major oil exporters.
The crude oil may go higher as soon as the agreement have been signed to provide the necessarily help to the Greece economy.
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