Oil falls on ballooning US crude inventories

Oil falls on ballooning US crude inventories
26/04/2017

Crude oil futures were trading lower during afternoon trade in the domestic market on Wednesday as investors and speculators exited their positions in the energy commodity as API report showed that US crude inventories grew by 8,97,000 barrels in the week to April 21 to 532.5 million barrels.
Besides, record supplies in the rest of the world, lost traders’ confidence that pledged output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and a group other producers including Russia will rein in oversupply.
At the MCX, crude oil futures for May 2017 contract is trading at Rs 3177 per barrel, down by 0.19 per cent, after opening at Rs 3182, against a previous close of Rs 3183. It touched the intra-day low of Rs 3173 (at 12:28 hours).

*****************************************************************************
Today Other Postings - Click the below link

*******************************************************************************
Lead futures plunge 0.32% on diminishing demand
Aluminium futures drop 0.40% on muted physical demand
Subdued physical demand bites mentha oil
Crude oil down on US crude supply worries
Intraday Zinc Tips, 2nd session: 26.APR.2017
Silver dips on weak global cues
Today 11.00 Am Intraday tips for Currency,Commodity and Equity
Gold down on French presidential election outcome
Live Gold Calls, 1st session: 26.APR.2017
* Indian Currency Support and Resistance Level : 26.04.2017

*****************************************************************************
Click Here  & Register for Commodity Tips
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

Click Here  & Register for Commodity Tips
Free Intraday Tips : Join Our Whatsapp No : 9841986753

Free Commodity Tips : Join our Whatsapp No : 9094047040
Posted by