MARKETS VIEW

NYMEX crude flat after API data reported, market looks ahead to EIA
 The American Petroleum Institute reported U.S. gasoline and crude oil inventories both fell 2.9 million barrels last week, Reuters said. More closely watched figures come Wednesday from the the U.S. Energy Information Administration (EIA), which said last week that crude inventories fell for the sixth consecutive week to 470.6 million, its highest level at this time of the year in at least 80 years. The EIA's report on Wednesday could show that crude stockpiles for the week ending on June 12 fell by 1.8 million barrels. On the New York Mercantile Exchange, WTI crude for August delivery rose 0.01% to $60.45 a barrel. Overnight, crude futures were mixed amid a stronger dollar and concerns related to Tropical Storm Bill. On the Intercontinental Exchange (ICE), Brent crude for August delivery fell 0.24 cents or 0.37% to $63.71 a barrel on Tuesday. Brent futures wavered between 63.44 and 64.40 on a choppy day of trading. Meanwhile, the spread between the international and U.S. domestic benchmarks of crude stood at $3.25, below Monday's level of 3.95. U.S. stockpiles typically fall at this  time of year as refinery capacity increases ahead of the busy summer driving season. Last week, U.S. refineries surged to 94.6% of total capacity, its highest level in weeks. The significant inventory draws, though, are seen as bullish for crude, which experienced historic levels of oversupply throughout the winter. In addition, on Friday oil services firm Baker Hughes (NYSE:NYSE:BHI) said U.S. oil rigs fell by seven last week to 635, marking the 27th consecutive week of weekly declines. The count is down markedly from its level last fall when it peaked above 1,600, as drillers continue a push to take inefficient rigs offline. In a monthly report, the U.S. Department of Commerce said the number of building permits for future home construction surged nearly 12% to an eight-year high at 1.28 million units. Although monthly housing starts dipped 11.1% to 1.04 million units, the Commerce Department upwardly revised an already robust figure from April to 1.17 million units. Dollar-denominated commodities such as crude become more expensive for foreign purchasers when the dollar appreciates. Investors await potential market-moving comments from Janet Yellen on Wednesday, following the completion of the Federal Open Market Committee's two-day June meeting. Although the Fed has not ruled out a June interest rate hike, it is more likely that the FOMC will wait until its September meeting before it raises its benchmark Fed Funds Rate for the first time in nearly a decade. (Investing)

MARKETS VIEW

Crude inches down, as UN head urges for ceasefire in Yemen fighting
 Crude futures inched down on Monday, as the head of the United Nations opened Yemen peace talks in Switzerland by urging sides to resolve the crisis by reaching a humanitarian ceasefire in the four-month long crisis. On the New York Mercantile Exchange, WTI crude for August delivery fell 0.41 or 0.69% to $60.00 a barrel. Texas Long Sweet futures traded in a tight range of 59.20 and 60.41 on the first day of trading this week. WTI crude futures have now declined on four straight sessions after surging more than 5% to near $62 a barrel in the middle of last week. On the Intercontinental Exchange (ICE), brent crude for August delivery fell 0.74 or 1.14% to 63.90 a barrel. Brent futures traded between 63.40 and 64.75 on a choppy day of trading. Brent prices have also declined for four consecutive sessions. The spread between the international and U.S. domestic benchmarks of crude stood at $3.90, just above Friday's level of $3.88. In Geneva, UN general secretary Ban Ki-Moon called for an immediate two-week ceasefire for Ramadan between Saudi Arabia and Iranian-backed Houthi rebels in Yemen. Constant air bombardments from a Saudi-led coalition has resulted in the deaths of more than 2,600 people since fighting began in March. The UN has called Yemen's humanitarian crisis "catastrophic," asserting that approximately 80% of civilians in the war-torn nation are in need of emergency aid. "We do not have a moment to lose," Ban said at a news conference on Monday. "I hope this week starts the beginning of the end of the fighting." Yemen is strategically located on the Bab el-Mandab, a strait that connects the Gulf of Aden with the Red Sea. In mid-November, the Energy Information Administration (EIA) ranked the Bab el-Mandab the fourth-largest chokepoint in the world for global oil transport (3.8 million barrels per day). The strait, which is only 18 miles wide at its narrowest point, separates Djibouti from Yemen at the tip of the Gulf of Aden.A host of oil-rich producers including Egypt, Saudi Arabia and Qatar operate a pipeline that carries oil from the Mediterranean Sea and Suez Canal through Alexandria to the northernmost point of the Red Sea. Further south, the Saudi East-West pipeline transports oil across the country from the Red Sea to the Persian Gulf. A third pipeline, the Sudan oil pipeline, brings oil south into Africa through the Sudanese capital of Khartoum. Energy traders are sensitive to any geopolitical risky news involving Saudi Arabia, the world's largest exporter of crude. (Investing)

NIFTY ON CHART:------->

MARKETS VIEW

Oil futures decline on stronger dollar, supply rise Crude oil futures declined on Friday, as demand for the greenback strengthened ahead of upcoming U.S. consumer sentiment data and as the previous session's upbeat U.S. retail sales report continued to support. On the New York Mercantile Exchange, crude oil for July delivery hit $60.27 during European early afternoon hours, down 48 cents, or 0.85%. A day earlier, Nymex oil prices dropped 66 cents, or 1.07%, to end at $60.77. The dollar found support after the U.S. Commerce Department reported on Thursday thatretail sales increased by 1.2% last month, beating expectations for a gain of 1.1%, and that core retail sales, which exclude automobile sales, rose by 1.0% in May, compared to forecasts for a 0.7% increase. At the same time, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending June 6 increased unexpectedly by 2,000 to 279,000. Investors were looking ahead to a preliminary report on U.S. consumer  sentiment due later in the day, for further indications on the strength of the economy. Oil futures were also hit after the IEA also said on Thursday that oil supplies from the Organization of the Petroleum Exporting Countries rose by 50,000 barrels in May from a month earlier to 31.33 million barrels per day, the highest level since August 2012, due to increasing output from Saudi Arabia and Iraq. In its monthly report, the IEA also said that global oil demand is forecast to increase by 1.4 million barrels a day this year, raising its projection from last month by 300,000 a day. Elsewhere, on the ICE Futures Exchange in London, Brent oil for July delivery retreated by 39 cents, or 0.55%, to trade at $64.72 a barrel. On Thursday, London-traded Brent futures dropped 59 cents, or 0.90%, to settle at $65.11. The spread between the Brent and the WTI crude contracts stood at $4.45 a barrel. (Investing)

MARKETS VIEW

Crude ends two-day winning streak, amid improved global demand forecasts
Crude futures ticked down on Thursday ending a two-day winning streak, amid a stronger dollar and improved forecasts for global demand in 2015 as a whole. On the New York Mercantile Exchange, WTI crude for July delivery fell by 0.65 or 1.1% to 60.78 a barrel. WTI crude traded in a tight range of $60.22 and $61.53 on Thursday, as energy traders locked into previous gains from earlier in the week. Over the previous two sessions, Texas Long Sweet futures surged more than 5% rising from a low of $57.86 a barrel on Monday to nearly $62 on Thursday. On the Intercontinental Exchange (ICE), brent crude for July delivery dipped 0.59 or 0.90% to 65.11 a barrel. Brent futures pared earlier losses in U.S. afternoon trading after falling to a session-low of $64.51. Brent also spiked by nearly 6% over the prior two sessions. The spread between the international and U.S. domestic benchmarks of crude stood at $4.33, slightly above Wednesday's level of $4.29. In a closely-watched report released on Thursday, the International Energy Agency (IEA) said global demand for crude will increase by 1.4 million barrels of day in 2015, a rate approximately 300,000 bpd faster than previous forecasts. The increase could push demand to 94 million bpd, above 2014 levels of 92.6 million bpd. A rise in U.S. gasoline demand and higher car sales in China spurred the growth expectations, the IEA said. The expected spike in demand could help counter record global supply. In May, OPEC supply levels edged up 50,000 bpd to 31.33 million bpd, as producers in Saudi Arabia, Iraq and the United Arab Emirates continued to pump oil at record monthly rates. The output marked OPEC's highest monthly supply level since August, 2012. Consequently, OPEC kept its output over 1 million bpd above its official supply target for the third consecutive month. While global oil supply dropped by 155,000 bpd in May amid lowering nonOPEC production, supply levels still remained approximately 3.0 million bpd higher than last year at this time at 96 million bpd, according to the IEA. In total, the IEA anticipates non-OPEC supply growth to increase by 195,000 bpd for 2015 to 1 million bpd. Average crude prices in May moved above $60 a barrel, after falling below $45 at the start of the year. Crude futures are still down roughly 40% since peaking in the triple digits 12 months ago. On Wednesday, the U.S. Energy Information Administration (EIA) said crude stockpiles last week fell by 6.8 million bpd. The draw came amid strong demand among gasoline refineries nationwide, which increased its storage capacity to 94.6%. On a global level, however, outages and delays at gasoline refineries in Saudi Arabia, the UAE, India, Brazil and Colombia have helped crude prices stabilize. The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, gained 0.56% to 95.12. Dollar-denominated commodities such as crude become more expensive for foreign purchasers when the dollar appreciates. (Investing)

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        WTI oil futures extend gains after bullish U.S. supply data-------->>>>
West Texas Intermediate oil futures rose to the highest level in almost four weeks on Wednesday, after data showed that oil supplies in the U.S. fell for the sixth consecutive week last week. On the New York Mercantile Exchange, crude oil for July delivery hit an intraday high of $61.81 a barrel, the most since May 13, before trading at $61.61 during U.S. morning hours, up $1.47, or 2.44%. Prices were at around $61.25 prior to the release of the inventory data. The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories fell by 6.8 million barrels in the week ended June 5. Market analysts' expected a crude-stock fall of 1.7 million barrels, while the American Petroleum Institute late Tuesday reported a decline of 6.7 million barrels. Supplies at Cushing, Oklahoma, the key delivery point for Nymex crude, declined by 1.1 million barrels last week, compared to estimates for a drop of 0.8 million barrels. Total U.S. crude oil inventories stood at 470.6 million barrels as of last week, remaining near levels not seen for this time of year in at least the last 80 years. The report also showed that total motor gasoline inventories decreased by 2.9 million barrels, while distillate stockpiles increased by 0.9 million barrels. Energy traders have been paying close attention to gasoline stockpiles in recent weeks as the U.S. driving season entered its peak gasoline demand period. Elsewhere, on the ICE Futures Exchange in London, Brent oil for July delivery climbed $1.36, or 2.1%, to trade at $66.24 a barrel after touching a daily peak of $66.35, the highest since May 22. Meanwhile, the spread between the Brent and the WTI crude contracts stood at $4.63 a barrel, compared to $4.74 by close of trade on Tuesday.
Traders are advised to keep Disciplined STOP-LOSS. Risks can be very high without STOP-LOSS

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NOTE : IF CRUDE OIL CROSS 3935AND SUSTAIN IT WILL TOUCH 3950/65/78
TRADE AS PER GIVEN LEVELS WITH STOP LOSS.