Tight moves continue in crude oil

WTI crude oil futures are holding around $63 per barrel in tight moves. Markets continue to eye tensions escalate between the United States (US) and Iran ahead of renewed nuclear talks in Geneva. Chinese markets are shut due to New Year holiday and US stocks were closed yesterday as well due to a public holiday, making it an overall lacklustre session for oil. Focus will now shift to the US weekly supplies data. MCX Crude oil futures are trading at Rs 5719 per barrel, down 1.24% on the day, struggling after a weak open. WTI Crude oil soared around 13% in last month but shed around 3% this month so far.

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