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Last Updated : Aug 02, 2018 05:14 PM IST | Source: Moneycontrol.com

Crude Oil prices to trade lower today: Angel Commodities

According to Angel Commodities, expect oil prices to trade lower today continuing its weakness from the previous trading session while news of Libya’s exports of oil returning back to oil markets will weaken the sentiment for oil prices.

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Angel Commodities' report on Crude Oil


WTI oil prices declined marginally by 0.1 percent to close at Rs.70.3 per barrel. as market focus returned to concerns about spare capacity following a warning from the International Energy Agency (IEA).The IEA cautioned the world's oil supply cushion "might be stretched to the limit" due to production losses in several different countries.


Outlook

We expect oil prices to trade lower today continuing its weakness from the previous trading session while news of Libya’s exports of oil returning back to oil markets will weaken the sentiment for oil prices.

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First Published on Jul 13, 2018 11:55 am
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