Moneycontrol
Sep 08, 2017 11:29 AM IST | Source: Moneycontrol.com

Crude Oil prices to trade higher: Angel Commodities

According to Angel Commodities, expect to trade on higher today international markets are trading higher by 0.3 percent at $49.22 per barrel while hurricane season will disturb the refining capacity in the US it remains to be seen how the hurricane IRMA proceeds in the Caribbean.

Crude Oil prices to trade higher: Angel Commodities

Angel Commodities' report on Crude Oil

WTI oil prices declined by 0.1 percent on Thursday to close at D49.1 per barrel with Brent rising to a 5-1/2 month high while U.S. crude slipped on a bigger-than expected crude stock build, as the restart of U.S. refiners after Hurricane Harvey was countered by the threat of Hurricane Irma. The U.S. Energy Information Administration said on Thursday U.S. weekly crude stocks increased 4.6 million barrels last week, topping analysts' forecast for a 4.0-million-barrel build in a Reuters poll.

Outlook

We expect oil prices to trade higher today, international markets are trading higher by 0.3 percent at D49.22 per barrel while hurricane season will disturb the refining capacity in the US it remains to be seen how the hurricane IRMA proceeds in the Caribbean.

For all commodities report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sections
Follow us on
Available On