Softening in crude oil, trend in natural gas

Crude oil prices are likely to be depressed.

MCX Service

Oil prices declined today due to the fear of a decrease in the record production of three major producers of the world, and the demand for world-class demand, due to the decrease in oil supply from Iran. Due to restrictions on Iran, the impact of supply shortage in the oil market has already ended. The United States has said that it will allow eight countries to continue importing oil from Iran. Prices of crude oil can be hindered at Rs 4,560 and Sahara at Rs 4,660 level.

Prices of natural gas futures are likely to be traded with the trend of rising prices and prices can trade in the range of Rs 240-255. US natural gas futures prices jumped on Friday due to the possibility of increased gas demand for heating after more cold in the US.

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