Friday, 5 December 2014

Natural Gas and Crude Oil News For Today

Crude Oil
Oil prices ended lower on Thursday as the debate over pricing continued after Saudi Arabia announced deep discounts for the crude it sells Asian and U.S. buyers in an apparent attempt to defend market share.

On the MCX, crude oil prices declined by 1.2 percent and closed at Rs.4136/bbl.

Natural gas
U.S. natural gas futures fell over 4 percent on Thursday for a fifth down day in a row on a smaller-than-expected storage draw and forecasts for continued warmer-than normal weather over the next two weeks. The U.S. Energy Information Administration said utilities withdrew 22 billion cubic feet of gas from storage last week. 

On the MCX, gas prices declined by 3.61 percent and closed at Rs.226.80/Mmbtu.

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