Friday, 29 May 2015

Energy News and Tips in Commodity Market

Crude Oil
WTI and Brent crude oil prices rose on Thursday by 0.3 and 0.8 percent respectively snapping two days of sharp losses, after data showed a fourth weekly drawdown in U.S. crude stocks.

On the MCX, oil prices declined by 1.2 percent to close at Rs.3668/bbl. 

Natural gas
NYMEX natural gas prices declined by 3.64 percent on Thursday to close at $2.73/bbl while MCX gas prices also lost by more than 5 percent to close at Rs.174.40/MMbtu. No incremental demand, buildup in the inventories exerted downside pressure on gas prices.

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