Crude Oil futures prices are holding above Rs.5290/bbl in MCX platform with a marginal gain from yesterdayâ€™s closing.
Contraction in Japanâ€™s industrial production, lower rate of growth in vehicle sales and dissipating tropical storm made oil prices to remain under pressure.
Most of the Asian equities closed in a lower note, whereas hopes from ECB bond buying have supported European equities to open in a positive note. Thus, recovery in equity market might be creating some support in oil prices.
Ahead of todayâ€™s economy symposium in Jackson Hole, concern of easing may continue to weigh on oil prices.
Thus, oil prices are likely to trade under pressure in rest of the day