Market Pearl

Crude Oil Updates U.S. crude inventories fell more than analysts' expectations last week, according to data released Wednesday by the U.S. Department of Energy. Crude oil stockpiles fell 10.6 million barrels to 323.6 million barrels, compared with an average survey estimate of a drop of 2.4 million barrels. The American Petroleum Institute, an industry group, reported a 4.6 million-barrel draw in its weekly report released Tuesday. Futures prices rocketed higher on the news Wednesday, rising 0.9% in the minutes after the release, to $98.94 a barrel on the New York Mercantile Exchange. Gasoline futures were up 1.4% to $2.6165 a gallon, and heating oil was up 2% to $2.9063 a gallon. The week before, crude oil inventories decreased by 1.90 million barrels to 334.20 million barrels. In MCX, Crude up by 0.89% at finally trade on 5199.10.

Crude Oil Trend Crude oil futures traded higher tracking recovery at the Nymex counter market during the evening hours of trading on Multi Commodity Exchange (MCX) Tuesday. Crude oil gained as euro appreciated against dollar ahead of  the European Union's emergency debt crisis summit and on expectations of a drop in US crude oil stockpiles .   MCX Gold Trend India gold futures reversed from an early record high on Tuesday afternoon weighed by a stronger rupee, which made the dollar-quoted yellow metal cheaper, but traders sought bigger falls in prices to book deals ahead of the festival season next month. * The most-traded gold for August delivery on the Multi Commodity Exchange (MCX) was trading 0.11% lower at Rs 23,201 per 10 grams at 2:46 pm, reversing from its record of Rs 23,320 struck earlier. * The rupee rose in afternoon trades aided by gains in domestic equities and the euro. The rupee plays an important role in determining the landed cost of dollar-quoted yellow ...