Quote on Oil from Mr. Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd

2024-05-31 09:24:26 am | Source: JM Financial Services

Quote on Oil from Mr. Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd

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Below the Quote on Oil from Mr. Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd

"Oil prices are trading slightly lower, weighed by selling seen in the entire commodities basket. However, prices may see some buying support at lower levels as traders will be focused on the Weekly U.S. oil inventory data later in the day and the OPEC+ producer meeting on June 2.

Technically, prices are expected to find support around 6540, while on the upside resistance is seen at 6670/ 6740."

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Quote on Oil from Mr. Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd

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