Thursday, 19 March 2015

Crude Oil and Energy News for Today

Crude Oil
On Wednesday, crude oil prices rose on both sides of the Atlantic with WTI and Brent both gaining by 2.8 and 4.5 percent respectively. s the dollar fell after the Federal Reserve indicated it preferred a more gradual path to normalizing U.S. interest rates despite being open to the first rate hike in almost a decade.

On the MCX, oil prices declined by 2.1 percent to close at Rs.2824/bbl.

Natural gas
Natural gas prices rose by 1.97 percent to close at $2.90/MMbtu on Wednesday to the highest since late February, rising with crude oil, despite forecasts for steady, near-normal temperatures over the next two weeks. The EIA natural gas inventory report due tonight is expected to show a drawdown of 48Bcf from storage. On the 

MCX, gas prices rose by 2.46 percent to close at Rs.182.90/MMbtu.

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