Friday, 12 December 2014

Natural Gas and Crude Oil News For Today

Crude Oil
On Thursday, WTI and Brent oil prices declined by 1.6 and 0.9 percent respectively continuing its recent run of losses. Persistent concerns over a supply glut and a bearish demand outlook is leading to decline in oil prices.

On the MCX, crude oil prices rose marginally by 0.1 percent and closed at Rs.3816/bbl.

Natural gas
U.S. natural gas futures ended down 1.43 percent on the latest weather forecasts calling for continued warmer-than-normal temperatures over the next two weeks. That decline came despite a government report early Thursday of a bigger-than expected storage draw. The EIA said utilities withdrew 51 billion cubic feet of gas from storage last week.

On the MCX, crude prices are expected to trade weaker in tandem with falling international markets.

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