Nymex crude oil prices gained by more than 2 percent yesterday, taking cues from positive unemployment claims data from the US coupled with a weaker dollar.
Oil prices hit a high of $98.35/bbl and closed at a level of $97.8/bbl yesterday.
On the MCX, oil prices increased more than 1 percent and closed at Rs.4928/bbl after touching an intra-day high of Rs.4953/bbl on Thursday.
Oil prices hit a high of $98.35/bbl and closed at a level of $97.8/bbl yesterday.
On the MCX, oil prices increased more than 1 percent and closed at Rs.4928/bbl after touching an intra-day high of Rs.4953/bbl on Thursday.
Natural Gas
Nymex natural gas declined around by 0.4 percent yesterday on the back of more than expected rise in natural gas inventories coupled with mild weather forecast across major gas-consuming regions was expected to limit demand.
Prices touched an intra-day low of $3.612/mmbtu and closed at $3.643/mmbtu in yesterday’s trading session. On the MCX, prices gained by around 0.6 percent and closed at Rs186.5/mmbtu on Thursday.
Prices touched an intra-day low of $3.612/mmbtu and closed at $3.643/mmbtu in yesterday’s trading session. On the MCX, prices gained by around 0.6 percent and closed at Rs186.5/mmbtu on Thursday.
EIA Inventories Data
US Energy Information Administration (EIA) released its weekly inventories yesterday which indicated that the US natural gas inventories increased more than expected by 37 billion cubic feet (bcf) to 3.831 trillion cubic feet for the week ending on 4th November.
Courtesy: Angel Commodities
Courtesy: Angel Commodities