The conditional commitment for the loan to Ultium Cells LLC for facilities in Ohio, Tennessee, and Michigan is expected to close in the coming months and comes from the government's Advanced Technology Vehicles Manufacturing (ATVM) loan program, which has not funded a new loan since 2010.
US benchmark West Texas Intermediate for March delivery fell 75 cents to USD 45.48 while Brent for March eased 60 cents to USD 49 in mid-morning trade.
Brokerage house Karvy Commodities Broking is bearish on Crude oil and has recommended traders to remain on sell side in the oil, in its research report dated June 12, 2013.
Karvy Commodities Broking has come out with its report on crude oil. Expect the markets to remain sluggish in today‘s session. From a technical perspective, one can remain on the buying side for the day, said the research firm report.
Angel Commodities has come out with its report on international commodities. According to the research firm, precious metals, base metals and crude oil prices are expected to trade on a firm note due to rise in the risk appetite amongst market participants ahead of the US jobs data and weakness in the DX.
Angel Commodities has come out with its report on metals and energy. According to the research firm, crude oil prices are expected to trade with a range bound note in today‘s trade on the back of mixed global market sentiments, amidst rangebound movement in the DX along with increase in US crude oil inventories from the API.
The markets have been taking cues of the sentiment across the globe. The economic sentiments, which are negative, can boost up the prices of gold, said Naveen Mathur, associate director of commodities and currencies at Angel Broking. Mathur is bullish on crude and has a buy call on it.
According to a report, investigators found 60 percent more weaknesses in Department of Energy's computer systems than during a similar audit in 2010.