Friday, 12 February 2016

Live Mcx Market News On Crude oil

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Crude oil futures sank almost 3 per cent in the domestic market on Thursday, hitting the lowest level since 2003 overseas as investors continue to shun the energy commodity amidst fears that last week’s surprise dip of 754,000 barrels in US storage levels won’t be enough to counter a growing supply glut amid rising OPEC production, and signs of slowing global demand growth.


While the IEA this week warned that oversupplies in the oil market may persist for several more months, the OPEC lowered its forecasts for global crude oil demand growth in 2016, as recessions in Brazil and Russia curb consumer spending.
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1 comment:

  1. investment adviser16 August 2016 at 11:07

    Epic Research recommends that Crude oil prices rallied after a short covering rally was triggered by comments from Saudi Arabia's oil minister about possible action to help stabilize the market.

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