Tuesday, 5 April 2016

Commodity Natural Gas and Crude Oil Market Prices

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Crude oil prices today are running down at both the global benchmarks showing concerns over the rising supply levels. A week before or so, market was expecting some better results from the much awaited 17th April Doha meet, which was scheduled after the failure of Moscow meet.

MCX crude oil slumped around 4.20%, registering at Rs.2463/bbl.

NG prices today shall remain on positive note on account of unseasonable demand that came basically due to multi year low NG prices. As per study done by Association of American Railroads, due to multi year low NG prices, demand for coal has slumped by 6% already within 12 weeks of 2016.

As per Friday’s closing, NYMEX NG and MCX NG showed tad losses, registering at $1.956/ MMBTu and Rs.129.70/ MMBTu respectively.

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