Crude Oil Update:  Oil futures prices have broken $89/bbl in international market ahead of IMF meet on World economy outlook due on tomorrow. Anticipation of cut down in growth outlook has created concern of slowdown in oil demand. Other than this, US third largest oil exporter Venezuela is likely to increase its oil supply in order to meet its food and housing demand, after Hugo Chavez has woto increase its oil supply in order to meet its food and housing demand, after Hugo Chavez has won the presidential election.

We may suggest remaining on selling side for the day. Technical supports are seen at $87.50 then $87.00 Resistances are seen at $89/$90…CMP $88.86

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