Thursday, 27 November 2014

Natural Gas, Crude Oil and Energy News For Today

Crude Oil
Oil prices declined on both sides of the Atlantic with Brent and WTI falling by 0.3 percent and 0.5 percent respectively. it appeared unlikely producer club OPEC would decide to cut output in support of prices at a meeting this week, and as increasing Chinese and U.S. stocks boosted available supplies.

Natural gas
U.S. natural gas futures fell by 4.09 percent on Wednesday on worries about mild weather forecasts in the near term, erasing early gains that came on last week's huge gas consumption for heating. Profit-taking ahead of Thursday's U.S. Thanksgiving holiday also drove the market lower.

On the MCX, gas prices gained by 1.07 percent and closed at Rs.274.70/MMbtu.

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