Mumbai, 26 March (Commoditiescontrol):
Oil prices steadied after yesterday's gain, with OPEC+ likely to maintain production cuts amidst Middle East and Russia tensions. Brent crude traded below $87 following a 1.6% rise on Monday, while West Texas Intermediate (WTI) hovered near $82. OPEC+ delegates foresee no change in policy at the upcoming meeting, as existing quotas prove effective. Renewed threats from the Houthis and Ukraine's attacks contributed to a 13% quarterly crude price surge, bolstered by bullish bets on Brent. Meanwhile, MCX crude oil futures today remains flat with a minor 0.06% decline, trading at 6820. Initial resistance lies at 6885, with support levels at 6750-6680.
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