Tuesday, 28 October 2014

Latest News on Natural Gas and Oil

Oil prices are trading lower today on abundant supply and lackluster demand despite a pick-up in global economic growth. Saudi Arabia has previously sent signals it is comfortable with lower oil prices and willing to maintain high supply levels to compete for market share. Kuwait's oil minister has said there is no negative effect on the country's development plan from lower oil prices. 

Global oil supply remains high despite disruption in producers such as Iraq and Libya. On the MCX, crude prices are trading higher by around 0.34 percent at Rs.4985/bbl.

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