The price of crude oil declined slightly after the latest OPEC+ meeting. The leaders met during the weekend and agreed to gradually ease some of its production cuts between May and July.
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Crude Oil Prices Rise 1% on Wednesday as Industry Data Showed US Crude Stockpiles Fell More Than Expected
Crude Oil prices rose more than 1% on Wednesday to their highest in nearly a month as industry data showed US crude stockpiles fell more than expected, underpinning a market already buoyed by worries over a potential US-Iran conflict.
Crude Oil Futures Tumbled Today as Global Growth Worries Weighed on the Market
These data pointers pulled the WTI Crude under $56 per barrel and the counter currently trades at $55.92 per barrel, down more than 1% on the day. Markets also preferred to book profits ahead of the US EIA weekly inventories data.
MCX Crude Trading Tips – Above 4001 Target 4220—4410, Buy on Dips – Neal Bhai
MCX Crude Trading Tips – Above 4001 Target 4220—4410, Buy on Dips – Neal Bhai
U.S. crude stockpiles fell 8.6 million barrels last week, in contrast to expectations for an increase of 2.8 million barrels, government data showed.
MCX Crude Oil Tips Above 3900 Target 4080—4140—4220
MCX Crude Oil Tips Above 3900 Target 4080—4140—4220
MCX Crude Oil settled down 3.75% at 3932 after US President Trump said oil prices are “too high”. The comment that urges OPEC to lower the cost of crude put pressure on the Saudi-led group to soften its price-boosting output cuts.
Crude Oil Outlook 14 Feb 2019
Gold Silver Reports (GSR) – We expect oil prices to trade higher today as the OPEC supply cut and cut in Venezuela exports on account of sanctions coupled with progress in the US-China trade relation.
Crude Oil Under Selling Zone Resistance Level @ 3888
Gold Silver Reports (GSR) – Crude Oil on MCX settled down -3.28% at 3749 as signs of a spreading global economic slowdown stoked concerns over future fuel demand. China’s state planner warned that the downward pressure on the economy will affect China’s job market as falling factory orders point to a further drop in activity in coming months and more job shedding.
Nymex Crude Oil Prices Forecast Above $45 Level, Target $49 — $52 – Neal Bhai Reports
Gold Silver Reports (GSR) – The Energy Information Administration said domestic oil inventories rose by 7,000 barrels last week, defying analyst projections for the decline that usually accompanies growing winter fuel demand. Gasoline supplies surged by 6.9 million barrels and stockpiles at a key storage hub in Oklahoma also grew.
Crude Oil hits Multi-Month Lows as Downbeat Mood Persists
Brent crude fell $1.56 to a low of $52.79 a barrel, its weakest since September 2017, before rallying to trade around $53.35, down 11.5 percent on the week, by 1435 GMT.
Crude Oil Rises to $61 on Libyan Supply cut, U.S. inventories – Neal Bhai Reports
Brent crude, the global benchmark, rose $1.07 to $61.27 by 0947 GMT. It has still fallen by almost a third since early October. U.S. crude gained 99 cents to $52.64.