Friday, 17 October 2014

Mcx Energy News For Today

WTI oil prices rose on Thursday on bargain buying at lower levels. Besides, data showing tight U.S. gasoline supplies and technical trading ahead of options expiry provided rare support amid a long downturn. U.S. government data showed gasoline stockpiles fell to their lowest level in two years, pushing gasoline futures 3 percent higher early and boosting crude futures which have fallen more than 25 percent since  June.

On the MCX, crude prices declined by 0.3 percent continuing its 
downtrend in the recent weeks and closed at Rs.5109/bbl. 

US natural gas futures edged lower on Thursday after the government reported a bigger-than-expected storage build and on forecasts for moderate weather over the next two weeks. 

On the MCX, crude oil prices are expected to trade lower taking cues from weak international markets.

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