Monday, 29 February 2016

Daily Commodity Market Energy News

WTI oil prices are trading higher today by 2.2 percent at $33.8 per barrel, while MCX oil prices are trading higher by 6 percent at Rs.2336 per barrel owing to news of a meeting of Saudi Arabia, Russia, Qatar, and Venezuela at middle of March. 

Venezuelan oil minister Eulogio Del Pino said his country, Saudi Arabia, Russia, and Qatar had settled on meeting in March. Despite the EIA data showing US crude oil stocks increased to 507.6 million barrels, pushing total domestic crude inventory to other weekly high, prices remained high.

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