MTECHTIPS CRUDEOIL

MTECHTIPS:-CRUDEOIL

Investors are seeking haven in the greenback after China’s manufacturing activity contracted to seven‐month low in May. The U.S. July oil futures contract had fallen 9 cents to $94.16 a barrel. Brent rose 5 cents to $102.49 a barrel. Strong U.S. housing data renewed worries the Fed would curtail its bond-buying program. Outlook : The prices for the Brent will take cues from the ECB President Draghi’s speech later today as well as the German Data. Prices might see red but a rise is also equally likely.