Brent crude oil futures on the Intercontinental Exchange (ICE) was up 6.6 per cent as it closed at $83.8 per barrel. Crude oil futures on the MCX gained 4.5 per cent by ending the week at ₹6,381 a barrel. MCX-Crude oil (₹6,381)The February futures contract of crude oil broke out of the resistance at ₹6,350 last week. If crude oil futures declines below ₹6,250, it can find support at ₹6,150 and ₹5,900. Trade strategy: Buy crude oil futures at the current level of around ₹6,380.

Source: The Hindu January 27, 2024 16:55 UTC