These data pointers pulled the WTI Crude under $56 per barrel and the counter currently trades at $55.92 per barrel, down more than 1% on the day. Markets also preferred to book profits ahead of the US EIA weekly inventories data.
Crude Oil Today
MCX Crude Trading Tips – Above 4001 Target 4220—4410, Buy on Dips – Neal Bhai
MCX Crude Trading Tips – Above 4001 Target 4220—4410, Buy on Dips – Neal Bhai
U.S. crude stockpiles fell 8.6 million barrels last week, in contrast to expectations for an increase of 2.8 million barrels, government data showed.
MCX Crude Oil Tips Above 3900 Target 4080—4140—4220
MCX Crude Oil Tips Above 3900 Target 4080—4140—4220
MCX Crude Oil settled down 3.75% at 3932 after US President Trump said oil prices are “too high”. The comment that urges OPEC to lower the cost of crude put pressure on the Saudi-led group to soften its price-boosting output cuts.
Crude Oil Outlook 14 Feb 2019
Gold Silver Reports (GSR) – We expect oil prices to trade higher today as the OPEC supply cut and cut in Venezuela exports on account of sanctions coupled with progress in the US-China trade relation.
Best New Year Offer 2019 – Last Date 31-01-2019, Don’t Miss It, Just Rs. 31,000 – Subscription for 1 Year, All Segment Covered – MCX, NCDEX, NIfty & Equity
Best New Year Offer 2019 – Last Date 31-01-2019, Don’t Miss It, Just Rs. 31,000 – Subscription for 1 Year, All Segment Covered – MCX, NCDEX, NIfty & Equity
Crude Oil Under Selling Zone Resistance Level @ 3888
Gold Silver Reports (GSR) – Crude Oil on MCX settled down -3.28% at 3749 as signs of a spreading global economic slowdown stoked concerns over future fuel demand. China’s state planner warned that the downward pressure on the economy will affect China’s job market as falling factory orders point to a further drop in activity in coming months and more job shedding.
Crude Prices up 1 Percent on Supply Report
International Brent crude oil futures were up 67 cents, or 1.1 percent, at $62.17 a barrel by 1230 GMT. U.S. West Texas Intermediate (WTI) crude futures rose by 51 cents, or nearly 1 percent, to $53.52.