Monday, 23 February 2015

Live Updates on Energy Market

Crude Oil
Oil prices traded lower last week after industry group American Petroleum Institute estimated a supply build of more than 14 millionbarrels. Threats to Middle East crude production and the falling U.S. oil rig count seemed to spur market bulls despite global inventory data suggesting an oversupply of up to 2 million barrels per day.

On the MCX, crude prices declined by 2.4 percent and closed at Rs.3215/bbl.

Natural gas
U.S. natural gas futures settled up 3.48 percent on Friday, hitting threeweek highs as freezing weather across much of the country fueled speculation about higher heating demand that overshadowed worries about high gas stockpiles. For the last week, prices rose by 5.04 percent and closed at $2.94/MMbtu.

On the MCX, gas prices rose 6.11 percent and closed at Rs.184/MMbtu.

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