MCX Morning Wrap: Crude breaks below Rs 6300 mark, Natural Gas dips after 9% rally yesterday

MCX Crude oil futures are trading with hefty losses today. The counter opened lower and saw sustained correction in morning moves, testing lows near Rs 6270-6280 per barrel mark before some stability set it. It currently quotes at 6283 per barrel, down 0.81% on the day. The counter had ended down 0.25% in the last session with a sharp drop in the open interest. MCX Natural Gas is lower as well following a 9% spike in last session. The Natural Gas futures are currently trading at Rs 284.30 per mmbtu, down 2.54% on the day. The counter tried to consolidate around Rs 291 mark in first hour of trade but fell sharply thereafter.

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