Tuesday, 12 January 2016

Commodity Market Updates on Natural Gas and Crude Oil

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Crude Oil
WTI oil prices declined by 5.3 percent on Monday to close at $31.4 per barrel with prices declining to new 12-year lows as further ructions in the Chinese stock market threatened to knock crude as low as $20 a barrel.

On the MCX, oil prices declined by 7 percent to close at Rs.2089 per barrel.

Monday's price dive was the biggest one-day loss since September triggered a rash of panicky trading across the market. While China's volatility is spooking traders over the outlook for demand from the world's No. 2 consumer, drillers in the United States say they are focused on keeping their wells running as long as possible, despite the slump.

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