crude today 12-11-2019

Check out for Prices!

By Srinivas Chowdary Sunkara // petrobazaar // 12th Nov 2019.

Brent oil prices slipped 33 cents to $62.18 and WTI oil futures prices inched 38 cents down at $56.86 a barrel last night. In Shanghai, Crude oil main contract futures have fallen by 3.8 Yuan or 0.93% to 452.3 Yuan/barrel while MCX crude futures closed up insignificantly at Rs.4078 yesterday. Brent traded at a premium of $5.32 over WTI.

The world crude oil price index demonstrated slight downward momentum yesterday on lingering trade war worries across the market. Another pressing factor is that Chinese producer&#39s prices have fallen the most in more than three years in October. Bullish news report on U.S inventories supported oil complex. Analysts are in the opinion that the sideward trading is expected to continue with the trade conflict headlines likely to dictate the direction. There are no compelling factors to drive the oil prices currently. Turning to data, API numbers are awaited today. Today morning, Oil futures are opened in red during Asian hours and it do not demonstrate any firm trend so far. Good day to all.

 Disclaimer: Views and opinions expressed here are personal. This commentary is  for  information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com








Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com

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