Moneycontrol
Jun 15, 2017 02:03 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, international markets are trading lower by 0.07 percent at $44.70 per barrel.

Expect Crude Oil prices to trade lower today: Angel Commodities

Angel Commodities' report on Crude Oil


WTI oil prices declined by 3.7 percent on Wednesday to close at $44.7 per barrel hit by an unexpected large build in gasoline inventories and an international outlook that suggests a big increase in supply in the coming year.


Outlook


We expect oil prices to trade lower today continuing its weakness from the previous trading session while increasing gasoline inventories in the US and weak gasoline demand are push factors for oil prices to be negative in the near term. On the MCX, oil prices are expected to trade lower today, international markets are trading lower by 0.07 percent at $44.70 per barrel.


For all commodities report, click here


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