Crude Oil Prices Rise 0.73%, But Glut Worries Fester

Crude oil futures were trading higher during afternoon trade in the domestic market on Friday as investors and speculators extended their positions in the energy commodity but pressured by concerns that a global supply glut is proving stubbornly persistent. Oil prices remained under pressure as data showed that crude stocks in the US, the world’s top oil consumer, swelled by 8.2 million barrels last week to a record 528.4 million barrels. US drilling has picked up as producers planning to expand crude production in North Dakota, Oklahoma and other shale regions, while output has jumped in the Permian, America’s largest oilfield.
At the MCX, crude oil futures for March 2017 contract is trading at Rs 3295 per barrel, up by 0.73 per cent, after opening at Rs 3297, against a previous close of Rs 3271. It touched the intra-day high of Rs 3320 (at 13:27 hours).
For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ – 0731-6626222 | Toll Free – 1800-3010-2007 ✔
Give a Missed Call for Free Trial – 09699997717 ✔
Advertisements

Author: ways2capital

Ways2capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX. To stay ahead in this turbulent markets traders/investors need the expert technical & fundamental analysis along with the latest news & data provided in various innovative & familiar ways. With this current scenario of economic re-balancing, emerging markets are becoming the leaders & driven of the economy across the globe as a whole. Ways2capital has been placed right at the center of this paragon. It is all possible because of the highly qualified analysts who are skilled & having cerebral thoughts in their analysis. Analysts become more competent as their ability is coupled by the latest software tools & techniques. Ways2capital offers various services in a different & simplified manner, so that it can suit the requirement of any trader/investor as per their investment. We provide more than 90% accuracy in our recommendations to make our client satisfied in a delightful manner. Ways2capital has proved itself as a benchmark in providing 24*7 customer support. If you are a commodity/stock/currency trader or investor then ways2capital will show you all the best feasible ways to optimize returns from the markets

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s