:: Market News --- ID :: 16151
crude today/22-5-2019
war of words

By Srinivas Chowdary Sunkara // petrobazaar // 22nd May, 2019.

Brent oil prices inched up 21 cents to $72.18 and WTI June contract, Which expired yesterday settled 11 cents down at $62.99 a barrel last night. Shanghai crude oil main contract dropped by 3.6 Yuan or 0.7% to 508.9 Yuan/barrel while MCX crude futures closed Rs.15 up at Rs.4415 yesterday. 

Following the Trump's 'great force' threat to Iran, Saudi Initiated to act as 'peace maker' role to restore peace in the region. Oil markets are playing down on an estimation of rising crude and gasoline stocks in U.S last week along with the reassurance by the de-facto leader of OPEC, Saudi to re-balance the market. Turning to weekly data, U.S Government data will confirm the API numbers later today. Asian markets are opened in red and trading down at the time of reporting. Have a good day. 

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