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Copper futures in red at MCX
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| Technical Calls |
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Commodities recap evening of 3rd Dec, 2008 |
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Crude plunged below $47 on back of expectation of rising weekly inventories due later today. OPEC members remained concerned about oversupply in the world oil market and may decide to cut output further at their next meeting in Algeria on Dec. 17. |
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Flashback - Energy 3rd Dec, 2008 |
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Today, oil prices will take cues from weekly energy inventory data, which will be released at 9.05p.m. As per expectation, data can weigh on oil prices. |
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Flashback - Base Metals 3rd Dec, 2008 |
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Base metals are taking cues from the equity and currency markets. Also, economic data and releases are indicating a weak economic situation and prices are under pressure. |
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