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Crude Oil prices are expected to trade lower today: Angel Broking

According to Angel Broking, Crude Oil On Tuesday, WTI Crude prices ended lower by 0.11 percent to close at $56.8 per barrel.

November 13, 2019 / 03:03 PM IST

Angel Broking's report on Crude Oil


Crude Oil On Tuesday, WTI Crude prices ended lower by 0.11 percent to close at $56.8 per barrel. Prices have been under pressure as uncertainties around the 16-month long trade war between the United States and China sapped the demand prospects for oil. Prices were further pressurized over a consecutive build up in the U.S. Crude inventory levels. U.S. President Donald Trump stated that they were nearing a trade deal with China; however, lack of information on the same weighed on the outlook of the global economic growth and pushed the prices lower.


Outlook


Weak economic data posted by China amid fading optimism over a possible trade deal between U.S. & China might weigh on Crude prices. On the MCX, oil prices are expected to trade lower today; international markets are trading lower by 0.12 percent at $56.73 per barrel.


For all commodities report, click here


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Broker Research
first published: Nov 13, 2019 03:03 pm

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