US inventories

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US inventories

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According to MCX Crude Operator Mumbai , high global and US inventories remains a cause of concern for Crude oil markets though. On the MCX, oil prices are expected to trade lower today.

WTI oil costs rose by zero.1 p.c on Thursday to shut at $48.4 per barrel with brant crude down on considerations that key producers were still adding to the world crude glut however U.S. crude up slightly once a larger-than-expected domestic inventory drawdown.
Outlook
Oil costs area unit expected to trade lower nowadays as international markets area unit mercantilism lower by [*fr1] a p.c at $48.10 per barrel. High world and USA inventories remains a reason for concern for oil markets tho’. On the MCX, oil costs area unit expected to trade lower nowadays.

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