AUG 21 THURSDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 4940, S2 RS 4880
R1 RS 5015 , R2 RS 5056
SELL AT RS 5010 TO 5015
STOP LOSS RS 5056
TARGET RS 4940
Oil Gains a Third Day on U.S.-Russia Tensions, Gasoline Supply .
Crude oil rose for a third day in New York on concerns
that Russian and Caspian Sea supplies may be disrupted
after the U.S. agreed yesterday to construct a missile-
defense system in Poland.
Crude oil for October delivery rose as much as $1.14, or 1
percent, to $116.70 a barrel on the New York Mercantile
Exchange and was trading at $116.34 at 12:43 p.m. in
Singapore. Futures are down 21 percent from a record
$147.27 on July 11. Prices are up 68 percent from a
year ago.
The September contract expired yesterday after increasing
45 cents, or 0.4 percent, to settle at $114.98 a barrel.
Georgian Black Sea ports are running out of crude and oil-
products to export as Russian troops block railways, a
shipping agent in Batumi said yesterday. BP Plc's Baku-
Tbilisi-Ceyhan pipeline and the Baku-Supsa system that
run through the country remain closed. They are
capable of carrying a combined 1.1 million barrels
a day.
Brent crude oil for October settlement rose as much as
89 cents, or 0.8 percent, to $115.25 a barrel on London's
ICE Futures Europe exchange. It was at $115.16 a
barrel at 12:36 p.m. Singapore time. It rose $1.11,
or 1 percent, to $114.36 a barrel yesterday.
Analysts had predicted a 3 million-barrel decline in
gasoline stocks in the U.S., according to a Bloomberg
survey.
Oil stockpiles rose 9.39 million barrels to 305.9 million
barrels, the biggest gain since March 2001.
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