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.
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 hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.