Friday, 10 April 2015

Natural Gas and Oil Tips on Commodity Market

Crude Oil
Oil prices rose on Thursday with WTI and Brent gaining by 0.7 and 1.8 percent respectively. Strong German economic data and uncertainty about negotiations on Iran's nuclear program, even as a strong dollar curbed oil's bounce a day after futures tumbled 6 percent.

On the MCX, oil prices rose by 1 percent to close at Rs.3215/bbl respectively.

Natural gas
U.S. natural gas futures closed at a near 3-year low on Thursday and closed at $2.55/MMbtu after government data showed a larger-thanexpected build in inventories last week as heating demand subsided with warmer weather.

On the MCX, gas prices declined by 3.23 percent to close at Rs.158.60/MMbtu.

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