Moneycontrol
Feb 16, 2017 12:32 PM IST | Source: Moneycontrol.com

Expect Crude Oil prices to trade lower today: Angel Commodities

According to Angel Commodities, on the MCX, oil prices are expected to trade lower today.



Angel Commodities' report on Crude Oil


WTI oil prices fell by 0.2 percent to close at $53.1 per barrel as rising US supplies have been a major concern despite compliance by the OPEC towards supply cuts. U.S. oil producers sent a record 7 million barrels of crude out into the world market last week.


Outlook


We expect oil prices to trade lower today, international markets are trading lower by 0.1 percent at $53.07 per barrel as rising inventories in the US creates a cause of concern for oil markets. On the MCX, oil prices are expected to trade lower today.

For all commodities report, click here

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