Crude stays elevated on firm equities

30 May 2022 , 05:26 PM

WTI Crude oil futures moved amid firm equities today, hitting around 11 week high near $116 per barrel. Asian stocks moved up impressively today. Chinas Shanghai Composite index edged up 0.60%. European shares edged up with German DAX leading the charge by 0.79%. Markets in the US are closed on Monday for a holiday. Wall Street closed sharply higher on Friday as signs of peaking inflation and consumer resilience boosted sentiment. The MCX Crude oil futures also tested Rs 9000 per barrel mark on these cues. MCX Crude oil call option for Rs 9000 per barrel is up 10.25% at Rs 401.30 following the bullish cues. The MCX Crude oil put option for Rs 8000 per barrel is down 11.51% at Rs 108.40. Powered by Commodity Insights