Wednesday, 10 September 2014

Energy free Call , Crude gains on hopes for upbeat .and risk free call.


Oil prices moved off nine-month lows on Tuesday, brushing off weak Chinese import data and Friday's soft U.S. jobs report on hopes weekly supply data will reflect solid demand in the world's largest consumer of crude. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in October traded up 0.29% at $92.93 a barrel during U.S. trading. New York-traded oil futures hit a session low of $92.53 a barrel and a high of $93.94 a barrel. The October contract settled down 0.68% at $92.66 a barrel on Monday. Nymex oil futures were likely to find support at $91.24 a barrel, the low from Jan. 9, and resistance at $93.62 a barrel, Monday's high. Oil prices took a hit on Monday after data revealed China's imports dropped in August when markets were expecting them to expand, while Friday's disappointing jobs report in the U.S. also dampened demand for the growth-sensitive commodity.



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