Thursday, 25 June 2015

Most Accurate Mcx and Commodity Tips Provider

Crude Oil
Oil prices declined on both sides of the Atlantic with WTI and Brent oil falling by 1.2 and 1.5 percent respectively. U.S. crude oil inventories fell last week, while gasoline sticks rose unexpectedly during summer driving season, data from the Energy Information Administration (EIA) showed on Wednesday.

On the MCX, oil prices declined by 2 percent to close at Rs.3830/bbl.

Natural Gas
NYMEX natural gas prices rose by 1.46 percent on Wednesday to close at $2.78/MMbtu while MCX gas prices rose by 0.52 percent to close at Rs.174.80/MMbtu.

Outlook
Crude inventories decline for eight consecutive session in a row is a positive signal on the demand side, however, the gasoline inventories buildup for two weeks in a row raises alarm. Greece situation and its outcome will also have bearing on oil prices.

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