Thursday, 3 March 2016

Daily Commodity Market Energy News

Crude oil settled flat recovering from lows as buyers shrugged off record high U.S. crude stockpiles to focus on an OPEC plan to freeze production, keeping alive the notion that market has bottomed from a near two-year selloff. The U.S. EIA said in its weekly report that crude oil inventories soared by a whopping 10.4 million barrels in the week ended February 26. Total U.S.

Copper on MCX settled up 1.25% at 328.3 bolstered by optimism that global growth will pick up and as speculators chased the rally. China's central bank announced a cut in the amount of cash that banks must hold as reserves, freeing up an estimated $USUS100 billion ($USA139.30 billion) for fresh lending.

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