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  • Hot Commodities: Crude Suffers Heavy Losses, MCX Futures Crash 1.60%
  • January 22,2021  14:28
  • WTI Crude oil futures are witnessing heavy losses today as markets are focussing on ideas that output from producing cartel OPEC could be rising on less compliance with the oil output cuts. The commodity is currently trading at $52.32 per barrel, down 1.50% on the day. MCX Crude oil futures also lost in line with global prices and are currently down 1.62% at Rs 3831 per barrel. Equities fell in Asia and continue to turn lower in Europe too as traders are worried about the US stimulus and rising cases of Covid-19 despite the rapid vaccination drives. Oil is also witnessing selling pressure on rising US shale output in coming months are keeping buyers at bay.

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