Tuesday, 7 April 2015

Natural Gas and Oil Tips on Commodity Market

Crude Oil
WTI Crude oil prices rose by 6.1 percent while Brent oil rose by 5.8 percent on Monday as traders reassessed how quickly Iran might increase exports after a preliminary nuclear deal and anticipated that a months-long rise in U.S. crude inventories may be slowing.

On the MCX, oil prices rose by 7.1 percent to close at Rs.3254/bbl.

Natural gas
U.S. natural gas futures fell more than 1 percent on Monday as mixed weather forecasts rolled back most of the previous session's rally that came despite warmer than-normal expectations for this week. The market was also facing pressure from new stock builds in natural gas expected to start last week after the final winter/early spring draw at the end of March.

On the MCX, gas prices declined by 1.89 percent to close at Rs.165.80/MMbtu.

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