Thursday, 19 November 2015

WTI oil futures push higher on bets for U.S. weekly supply drop

West Texas Intermediate oil futures pushed higher on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories fell for the first time in eight weeks last week. 
Crude oil for delivery in December on the New York Mercantile Exchange rose 40 cents, or 0.98%, to trade at $41.07 a barrel during European morning hours. 
A day earlier, Nymex prices tumbled $1.07, or 2.56%, as mostly bearish outlooks for supply and demand remained on investors' minds.
 The U.S. Energy Information Administration will release its weekly report on oil supplies at 10:30AM ET Wednesday. 
The data was expected to show that crude inventories rose by 1.9 million barrels last week.
 After markets closed Tuesday, the American Petroleum Institute, an industry group, said that U.S. crude inventories declined by 482,000 barrels in the week ended November 13. Total U.S. crude inventories are near levels not seen for this time of year in at least the last 80 years, underlining concerns over a domestic supply glut. Elsewhere, on the ICE Futures Exchange in London, Brent oil for January delivery tacked on 55 cents, or 1.27%, to trade at $44.12 a barrel.

Marketmagnify provide tips and advices to our clients by sms/calls/chat. We have dedicated team of analysts and we are providing reliable and valuable tips on stock, commodities. We believe in our customer satisfaction by giving them successful results.We provide high accurate Mcx Tips at very reasonable price to help small traders and investors to make decent money. Fill OUR FREE TRIAL We cover all types of services all segment.


  1. Crude surged to fresh yearly highs as inventories rose less than industry expectation, support seen despite Kuwait oil workers ended their 3-day strike as estimated by Epic Research.

  2. I was looking for something like this ,Thank you for posting the great content……I found it quiet interesting, hopefully you will keep posting such blogs…

    Best Advisory Company

  3. HNI CALL; BUY REL CAPITAL FUTURE ABOVE 452 TG 454 458 SL 448 BELOW Commodity Market tips .