Wednesday, 3 February 2016

Best Mcx Market Update On Crude oil Tips

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U.S. oil futures extended losses into a third session in early Asian trade on Wednesday as U.S. crude stocks last week surged to more than half a billion barrels, stoking concern over global oversupply.

Milder weather forecast for the last eight weeks of the U.S. November-March winter heating season has further dampened demand hopes.

The front month contract for West Texas Intermediate (WTI) was down 40 cents at $29.48 at 0035 GMT, after settling down $1.74, or 5.5 percent, in the previous session.

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