On NYMEX April contracts closed yesterday at $4.169 down by 5.3 percent.

Prices declined last week on NYMEX as mild weather and sufficient inventories kept the demand outlook for the fuel down.

OUTLOOK:

The market is expected to continue to trade lower as the winter seasonal demand nears to an end.

As a result inventories may start building up this week on.

With no major releases scheduled for the day price movement may be less volatile.

Courtesy: Karvy Commtrade Ltd.

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