Last Updated : February 02, 2012 14:35
Crude oil expected to decline on rising US inventories
Crude oil futures declined almost 1% fell below $98 on bearish weekly inventory data and lingering concerns of Greece debt restructuring despite positive economic data.
US commercial Crude Oil stockpiles rose by 4.2 mb while Gasoline inventories rose by 3.02 mb in the week ended Jan 27. We expect oil prices to trade sideways to down on weak economic outlook witnessing short recovery in the morning session with positive equity indices and stronger Euro.
Courtesy: Edelweiss Comtrade Limited Research
Looking for Trading Advisories? Visit tips.commodityonline.com
MCX Silver 05 September 2012
contract was trading at
Rs 56922 . What's your view on it?
