Friday, 23 January 2015

Energy News for Today

Crude Oil
Oil prices declined on both sides of the Atlantic with WTI and Brent oil falling by 3.1 and 1 percent respectively. EIA report showed the biggest build in U.S. crude inventory in at least 14 years exerting downside pressure on prices.

On the MCX, oil prices declined by around 2 percent and closed at Rs.2891/bbl.

Natural gas last
week versus a drawdown of 236 Bcf the week prior. Less drawdown in inventories pull down NYMEX natural gas prices by 4.27 percent to close at $2.81/bbl while on the MCX, gas prices declined by 4.01 percent and closed at Rs.172.20/Mmbtu.

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