Crude oil prices fell marginally in today’s trade ahead of US president Trumps decision on Iran’s deal scheduled to release at 11.30 PM IST. Trump has repeatedly said that he disagrees with the current deal. In 2015, the Iran agreement lifted economic sanctions on Iran and in exchange the oil-producing country would limit its nuclear program and allow inspections of its atomic facilities. If Trump imposes harsher sanctions on Iran oil prices could open with sharp gains tomorrow & viceversa.
India’s Multi Commodity Exchange (MCX) will launch the country’s first crude oil options contract on May 15, the exchange said in a statement on Tuesday. Two contracts expiring on June 15 and July 17 with lot size of 100 barrel will be launched next week, the exchange said. India is the world’s third-biggest consumer of crude oil. Crude oil futures contracts were most traded on the exchange platform in 2017/18 fiscal year ended on March 31. The option contract will provide the physical market participants an additional tool to hedge their risk, said Mrugank Paranjape, managing director of MCX. The Securities and Exchange Board of India has approved the options contract last week, the exchange added.
Tomorrow Crude oil prices could open with sharp gains or losses tomorrow as prices continue to trade volatile just ahead of US presidents Trumps decison on Iran deal scheduled to release at 11.30 PM today. We expect tomorrow it will Open with Huge Up side Margin
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