EPIC AGRI COMMODITY UPDATE:CRUDE OIL
Posted: Mon Mar 25, 2013 11:20 pm
Crude trading range for the day is 5074-5240.Crude gained after Cyprus secured a last-minute bailout deal, averting a deeper euro zone crisis and boosting outlook for fuel demand.Saudi Arabia's oil minister said that a price at around $100 a barrel was reasonable for both consumers and producers.Continued unrest in the Middle East also supported oil prices as investors feared supply disruptions.Crude is holding with a support at 5074 and resistance will be likely at 5240.