Moneycontrol
Dec 06, 2017 03:36 PM IST | Source: Moneycontrol.com

Crude Oil prices to trade lower: Angel Commodities

According to Angel Commodities, expect oil prices to trade lower today continuing its weakness from the previous trading session while profit booking at higher levels will further exert downside pressure.


Angel Commodities' report on Crude Oil

WTI oil prices rose marginally by 0.3 percent on Tuesday to close at D57.6 per barrel supported by strong demand, expectations of a drop in U.S. crude inventories and an OPEC - led deal to extend oil output cuts. Data on Wednesday from the U.S. Energy Information Administration (EIA) to show crude stocks fell 3.4 million barrels last week.

Outlook

We expect oil prices to trade lower today continuing its weakness from the previous trading session while profit booking at higher levels will further exert downside pressure.

For all commodities report, click here

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