MCX Crude Breaks Above Rs 7900 Per Barrel Mark, Equities Rise Globally

28 Jul 2022 , 05:16 PM

MCX Crude oil futures moved up in tune with the global cues as the WTI futures soared today amid firm global equities. WTI Crude is up 2.23% at $99.40 per barrel. The MCX Crude oil futures also jumped above Rs 7900 per barrel and currently trade at Rs 7929 per barrel, up 1.35% on the day. The Asian stocks rose on firm overnight cues from US markets. European stocks moved up amid good buying support. The US stocks jumped. The traders reacted to the US Feds widely anticipated interest rate hike and Fed Chair Jerome Powells comments that he does not think the US is currently in a recession and added that the central bank will likely slow rate increases at some point. Powered by Commodity Insights