Expect petroleum costs to trade lower today: MCX Crude Oil Operator Mumbai

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Expect petroleum costs to trade lower today: MCX Crude Oil Operator Mumbai

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MCX Crude Oil Operator Mumbai, on the MCX, oil costs area unit expected to trade lower these days, international markets area unit mercantilism lower by two.8 p.c at $44.25 per barrel.

MCX Crude Oil Operator Mumbai’ report on petroleum

WTI oil costs declined by around five p.c to shut at $45.5 per barrel costs plunged to five-month lows on weekday amid record mercantilism volume in brant crude, as oil cartel and different producers seemed to rule out deeper offer cuts to scale back the world’s persistent glut of crude.
Outlook
We expect oil costs to trade lower these days continued its weakness from the previous mercantilism session whereas high oil inventories within the North American country and ruling out vessel offer cuts by the oil cartel area unit factors to push oil costs lower. On the MCX, oil costs area unit expected to trade lower these days, international markets area unit mercantilism lower by two.8 p.c at $44.25 per barrel.

 

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