Crude oil gains a tad on US industry data
Crude oil futures traded marginally higher on Wednesday morning as an industry data showed a decline in inventory levels in the US. At 9.57 am on Wednesday, May Brent oil futures were by 0.18 per cent at $83.44 and April crude oil futures on WTI were up by 0.01 per cent at $77.59. March crude […]
Crude oil drops as market assesses likely impact of Fed’s minutes
Crude oil futures traded lower on Wednesday morning as the market felt that the release of minutes of the meeting of the US Federal Reserve later in the day may have an impact on the demand for crude oil in the global market. At 9.52 am on Wednesday, April Brent oil futures were down 0.22 […]
Crude oil gets boost from Chinese demand recovery forecast
Crude oil traded higher on Wednesday morning following hopes of recovering demand in the Chinese market. This followed OPEC’s (Organization of Petroleum Exporting Countries) monthly oil market report’s forecast of demand recovery for crude oil in China. At 10 am on Wednesday, March Brent oil futures were at $86.49, up by 0.66 per cent, and […]