crude today 10-12-2019

Check out for Prices!

By Srinivas Chowdary Sunkara // petrobazaar // 10th Dec 2019.

Brent oil prices fell 14 cents to $64.25 and WTI oil futures prices slipped 18 cents to $59.02 a barrel last night. In Shanghai, crude oil main contract futures prices rose by 8.2 Yuan or 1.79% at 465.3 Yuan/barrel while MCX crude oil futures prices changed little down to Rs.4197 yesterday. Brent premium over WTI widened to $5.23 a barrel during the session.

The world crude oil price index sagged down after customs data released on Sunday showed that Chinese exports in November fell 1.1% from a year earlier as against the expectation of 1% rise in a Reuters poll. The data certainly fueled the concerns over trade fears, existed currently in the market. yesterday&#39s price drop also put an end to a strong price rally driven by the OPEC+ outcome last week. Analysts predict that strong adherence to rein in supplies and positive economic developments from U.S-China trade together will push Brent to $70 a barrel before the second quarter of 2020. Turning weekly data, API predictions are due later today followed by government data tomorrow. Today morning, Asian markets opened with a gap down and it do not demonstrate any firm trend so far. Weekly stock data and trade talks are in limelight. 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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