Fundamental Outlook of Crude Oil
Crude oil dropped on Thursday, recoiling after posting their largest gain in two weeks a day earlier, as worries about the impact of the continuing U.S. government shutdown on demand from the world's largest oil consumer undermined prices.
Crude oil is trading marginally lower on NYMEX today. We expect prices to remain range bound with a negative bias for the day as the U.S. government shutdown continued and concerns about demand from the world's largest oil consumer outweighed news of production shutdowns in the U.S. Gulf of Mexico due to a tropical storm.
SGX Nifty is trading 10 points negative. Benchmarks Indices overcame a spell of fag-end volatility to close with moderate gains today after the GST Council reduced tax rates on a wide range of mass use items.Share Tips
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