Moneycontrol
Feb 15, 2017 11:53 AM IST | Source: Moneycontrol.com

Expect Crude Oil prices to trade lower today: Angel Commodities

According to Angel Commodities, expect oil prices to trade lower today, international markets are trading lower by half a percent at $52.89 per barrel.

Expect Crude Oil prices to trade lower today: Angel Commodities


Angel Commodities report on Crude Oil


WTI oil prices rose by half a percent to close at $53.2 per barrel as evidence of surging U.S. crude oil stockpiles underscored concerns that shale production might limit the effectiveness of an OPEC-led effort to cut global output.


Outlook


We expect oil prices to trade lower today, international markets are trading lower by half a percent at $52.89 per barrel. Besides, rising inventories in the US creates a cause of concern for oil markets. On the MCX, oil prices are expected to trade lower today.

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