Crude oil added impressive gains today, topping highs above $102 per barrel amid supportive equities despite worries about the near term sustainability of the prices at elevated levels. Asian markets added good gains today, extending its bounce from the middle of last week as risk appetite was right back on track on hopes that the Greece situation would not turn murkier in near term and a strong undertone in commodities helped investors shrug off some of their concerns. The Eurozone debt troubles were seen easing on reports that Germany may drop its call for Greece to restructure its debt, giving the beleaguered nation a hope that it will get a new tranche of aid to help it avoid a default. Euro gained on these reports, supporting risky assets across the board. The major Asian stock markets had mostly dropped in the last session but started off on an upbeat front following these developments. Dow futures are also up more than 100 points. In currency markets, the Euro gained above 1.4400 levels against the dollar to strike three-week highs on supportive economic data. The commodities complex was in a very good touch following this. WTI Crude quotes at $102.12, up $1.53 per barrel as traders eyed more gains after prices managed to stay above $100 mark. MCX Crude oil futures for June surged above Rs. 4600 per barrel mark and currently quote at Rs. 4611, up Rs. 77 or 1.70% on the day. Prices could gain further as long as they manage to stay above Rs. 4600 levels.

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