MARKET UPDATES ON MAY 21 THURSDAY

Crude for July delivery, the new front-month contract, gained

$1.94, or 3.2%, to end $62.04 a barrel on


the New York Mercantile Exchange, the highest closing level

for a front-month contract since Nov. 10.


The commodity for trade under the MCX India last traded at

2932 levels by gaining 48 points.

Crude oil clambered above $60 a barrel Wednesday, as glutted U.S.

crude stockpiles receded and gasoline


markets firmed up. Crude-oil inventories in the week ended

May 15 fell for the second week in a row


decreasing by 2.1 million barrels. Despite the decline, crude

inventories, at 368.5 million barrels, were


still above the upper boundary of the average range for

this time of year.


Crude Oil for trade under the NYMEX might see supports at $932

levels while the resistance for the same

might be seen at $945 levels respectively.