Moneycontrol
Apr 20, 2017 01:12 PM IST | Source: Moneycontrol.com

Expect Crude Oil prices to trade higher today: Angel Commodities

According to Angel Commodities, expect oil prices to trade higher today as international markets are trading higher by 0.5 percent at $50.66 per barrel.

Expect Crude Oil prices to trade higher today: Angel Commodities

Angel Commodities' report on Crude Oil


WTI oil prices declined by around 4 percent to close at $50.4 per barrel after a surprising build in U.S. gasoline inventories and a rise in domestic crude output that is partially offsetting cutbacks by other countries trying to reduce a global glut.


Outlook


We expect oil prices to trade higher today as international markets are trading higher by 0.5 percent at $50.66 per barrel. Build up in gasoline inventories and US imports from the OPEC nations are push factors for oil prices. ON the MCX, oil prices are expected to trade higher today.


For all commodities report, click here


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