Crude Oil Slips Below $40|barrel, But Rebounds Again

Crude Oil Slips Below $40|barrel, But Rebounds Again

Gold Silver Reports — Crude Oil rebounded on Tuesday after falling by up to 10% in one week, but investors remained concerned about oversupply weighing on prices .

Crude Oil Slips Below $40|barrel, But Rebounds Again

Global fuel inventories are brimming as refineries have churned out huge volumes of diesel, gasoline and jet fuel but the supply glut has diminished refining margins and demand failed to keep up with supply. Global benchmark Brent crude was trading up 80 cents at $42.94 a barrel at 1221 GMT .

US WTI crude was up 54 cents at $40.60 a barrel, after briefly dipping below $40.“There is much talk about the product glut replacing the oil glut, and this is a worrisome indicator for crude demand,“ said an oil analyst . — Neal Bhai Reports


Our site is objectively in letter and spirit, based on pure Technical Analysis. All other content(s), viz., International News, Indian Business News, Investment Psychology, Cartoons, Caricatures, etc are all to give additional ambiance and make the reader more enlightening. As the markets are super dynamic by very nature, you are assumed to be exercising discretion and constraint as per your emotional, financial and other resources. This blog will never ever create rumors or have any intention for bad propaganda. We report rumors and hear-say but never create the same. This is for your information and assessment. For more information please read our Risk Disclaimer and Terms of Use.

Technically Yours,

Team, New Delhi, INDIA