AUG 14 THURSDAY
SHORT TERM TREND : BULLISH : TARGET RS 5135
LONG TERM TREND : BULLISH : TARGET RS 5260
S1 RS 4985 , S2 RS 4946 , S3 RS 4910
R1 RS 5064 , R2 RS 5095 ,R3 RS 5135
PREFER INTRA DAY LONG AT RS 4985 TO 4980
STOP LOSS RS 4945
TARGET RS 5064
Crude Oil Rises a Second Day on Lower U.S. Gasoline Supplies .
Crude oil rose for a second day after a U.S. Energy Department
report yesterday showed a bigger-than- forecast decline in
inventories of gasoline as refiners shut units and imports fell.
Crude oil for September delivery rose as much as 96 cents, or
0.8 percent, to $116.96 a barrel and was at $116.85 at 12:55 p.m.
Singapore time on the New York Mercantile Exchange.
U.S. gasoline stockpiles were forecast to drop 2.15 million
barrels, according to a Bloomberg News survey. Oil prices
fell 5.8 percent in the previous three days to yesterday's session.
Inventories of crude oil fell 316,000 barrels to 296.5 million, the
department said. Supplies were forecast to rise 300,000 barrels,
according to the median of responses by 13 analysts surveyed
by Bloomberg News.
Brent crude oil for September settlement rose as much as 94 cents,
or 0.8 percent, to $114.41 a barrel on London's ICE Futures Europe
exchange. The contract was at $114.20 a barrel at 12:52 p.m.
Singapore time. It climbed $2.32, or 2.1 percent, to settle at
$113.47 a barrel yesterday. Futures touched $110.47 on
Aug. 12, the lowest since May 2. The contract expires today.
The more-active October future gained as much as 90 cents,
0.8 percent, to $115.75 as barrel.
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