Expect Crude Oil prices to trade lower: Angel

On the other hand, Iran said it will only sign a final nuclear accord if all sanctions imposed over its disputed nuclear program are lifted the same day.

On the MCX, oil prices rose by 1 percent to close at Rs.3215/bbl respectively.

Natural gas

U.S. natural gas futures closed at a near 3-year low on Thursday and closed at $2.55/MMbtu after government data showed a larger-thanexpected build in inventories last week as heating demand subsided with warmer weather.

On the MCX, gas prices declined by 3.23 percent to close at Rs.158.60/MMbtu.

Outlook

We expect crude oil prices to remain under pressure as major fundamentals remain bearish for the commodity in already well supplied markets. Iran nuclear sanctions are making the headlines, how the deal will be through will have a major impact on oil markets.

On the MCX, oil prices are expected to trade lower taking cues from international markets.

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