Brent Crude Reaches $ 60 A Barrel, Prices Rise

Brent crude reaches $ 60 a barrel, prices rise as demand picks up. Brent oil prices exceeded $ 60 a barrel on Monday.

This increase has been seen for the first time in the last year. It rose 1.26 percent to $ 60.19 a barrel.

Indeed, with the introduction of the Corona vaccine in the market and the introduction of vaccination campaigns in many countries, the demand for investors is increasing.

Crude prices have continued to rise for the past one week following the announcement of the rescue package by US President Joe Biden. Crude support was also supported by cuts in crude supplies and hopes of a relief package in the US.

The expectation of ending Corona will also increase demand for crude in the coming days. Crude oil was also supported by weakness in the dollar against most currencies on Monday.

The rupee rose nine paise to 72.84 against the US dollar during early trading on Monday. In the morning, global oil benchmark Brent crude was trading up 0.99 percent at $ 59.93 a barrel.

Please tell that Saudi Arabia has cut production. Russia, Iraq has also reduced supply. Demand from anti-corona virus lockdown remains low in Europe and parts of Asia. It has also got support.

On the other hand, the stock market opened on the green mark on the first trading day of the week. The Sensex gained 533.99 points to open at the level of 51,265.62.

At the same time, the National Stock Exchange’s Nifty opened with a gain of 151.00 points at 15,075.25. Friday closed for the fifth consecutive season with an edge.

The Sensex gained 117.34 points to close at 50,731.63. The Nifty closed at the level of 14,924.30 with a gain of 28.60 points.

Gold Futures Price: Gold futures fall, silver also slips, know what is going on

On the first trading day of the week in the domestic futures market, gold prices fell in early trade on Monday. On the MCX exchange on April 5, 2021 futures gold was seen trading at Rs 47,161 per 10 gram, dropping by Rs 95 at 9 am on Monday.

At the same time, the global market saw a rise in the global futures price of gold and a fall in the global spot price in early trade on Monday.