Monday, 2 February 2015

Today Energy News in Commodity Market

Oil prices sky rocketed by around 8% on Friday both in the US and ICE Brent as data over Rigs counts showed a record weekly decline for oil drilling.

At MCX, oil for Feb expiry closed higher by around 4% to Rs 2855 per barrel and may see moderate higher opening today.

Natural gas at NYMEX moved lower last week with the commodity sliding down by 9% to $2.69 per MMBTU

NYMEX NG for Feb expiry contract at MCX too shed weight though losses were modestly lower to 7.7% to Rs 168 per MMBTU.

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