MCX Crude Oil Trading Strong Updates by Money Maker Financial

Crude Oil rallied strongly today. Estimates of production cuts at the beginning of Crude in the international market was bouncing around 5 percent. But in Doha, Saudi, Russia and Venezuelan oil ministers meeting early gains after crude oil have been reduced.

 In the meeting it was agreed on the fact that the three countries will increase from the current level of Crude production. Production cuts has not yet been spoken. Yesterday's meeting in Tehran with Iranian Oil Minister. After the meeting, Saudi Arabia's oil minister said that crude oil prices will not interfere in any way, will determine the market price of Crude.

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Commodity Jeera prices hits 2% upper circuit on lower supply in the spot market

Jeera futures continued to trade higher tracking reports of crop damage in Northern Gujarat due to disease and on concerns on yield due to lower moisture levels. Jeera Mar contract closed the day at Rs.14705 per quintal, higher by 1.87% from its previous close.

According to our sources, a disease has affected plant and 5% damage is expected on output. Spot markets are trading higher taking positive cues from the futures market.

 Advice: Our research team Advice Sold Agri Jeera around 14,700 march Contract targets 14500, 14300 stop loss 14911.