Why- MCX Crude, NMYMAX & Brent Crude Rate Decreased Today @ Now buy for long term or Positional

Crude prices have continued to fall. US crude inventory decreases and despite the weakness in the dollar is seeing prices fall. NYMAX WTI on crude prices slipped below $ 48 a barrel. While Brent crude is trading around 53. The global market in over-supply caused crude oil prices declined. According to experts, the price of crude WTI may come down to $ 45.

The 0.40 per cent decline on NYMAX  WTI Crude trading at 47.80 dollars a barrel is. While Brent crude slipped by 0.25 per cent to $ 53.18 per barrel has come. The effect of the decline in the international market is also showing on the domestic market and the price of crude fell MCX Rs 3071 per barrel has come.

Production of crude more than demand:-  OPEC crude production to 30 million barrels per day against demand is highest. During the second quarter, 312.5 million barrels of OPEC's has been fixed daily crude production. While demand is 282.6 million barrels daily. OPEC production target of 300 million barrels per day.

Long Term Investment Ideas for MCX Crude Oil

>> Long term Trader can Buy MCX Crude near around 2900 to 3050 with in September future Contract Targets 3300, 3600 stop loss 2671. You can take 1 to 5 lot and hold it 21 September.