Thursday, 29 January 2015

Natural Gas and Oil Related News

Crude Oil
Crude oil prices continued its weak trading in yesterday’s session also with WTI and Brent prices declining by 3.9 and 2.3 percent to close at $44.5 and 48.5/bbl respectively. Prices declined after the government reported record-high inventories in the United States that raised anxieties about the global oil glut that had pressured the market since last summer.

On the MCX, oil prices traded lower by 2.5 percent and closed at Rs.2772/bbl.

Natural Gas
NYMEX natural gas prices declined by 1.04 percent on Wednesday to close at $2.85/MMbtu on forecasts for less cold weather over the next two weeks and ahead of a storage report expected to show a belowaverage draw.

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