Crude oil eases on rising COVID-19 cases; Axis Securities recommend buy for a target of Rs 5,600

Crude oil prices marginally fell on July 26 as participants trimmed their bullish positions as seen by the open interest. The oil prices traded under pressure on surging COVID cases of Delta variant forced countries to imposed restrictions and fresh floods in China weigh on demand. Crude oil prices recovered from losses suffered early last week on bargain buying and a strong demand outlook in the second half of the month. The energy commodity traded in the negative after a gap-down start, tracking the weak global cues. On the MCX, crude oil delivery for August declined Rs 22, or 0.41…