US Oil rises from
one-week low
US inventory data in focus Sentiment in oil markets has been torn between expectations of a rebound in US shale production and hopes that oversupply may be curbed by output cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and others. US Oil rises from one-week low, US inventory data in focus US oil on Thursday moved away from one-week lows touched the session before, with investors turning their attention to upcoming government data on US inventories. Sentiment in oil markets has been torn between expectations of a rebound in US shale production and hopes that oversupply may be curbed by output cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and others. US West Texas Intermediate (WTI) crude oil futures were trading up 38 cents at USD51.46 per barrel at 0035
GMT, after dropping to a one-week low on Wednesday at USD50.91 a barrel. Brent crude , the international benchmark for oil prices, was yet to trade after closing down 2.8 percent in the last session. "The IEA (International Energy Agency) said it expects higher oil prices to trigger a significant boost in US shale output," ANZ said in a note. "This is broadly in line with our estimate. However, we still expect the global oil market to move into a significant deficit in the first half of 2017." The market is seeking direction from weekly inventory data from the US Energy Information Administration (EIA), due at 1600 GMT. It has been delayed by a day due to a US public
Read more for Indian Stock Tips-http://www.aceinvestmentadvisory.com
US inventory data in focus Sentiment in oil markets has been torn between expectations of a rebound in US shale production and hopes that oversupply may be curbed by output cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and others. US Oil rises from one-week low, US inventory data in focus US oil on Thursday moved away from one-week lows touched the session before, with investors turning their attention to upcoming government data on US inventories. Sentiment in oil markets has been torn between expectations of a rebound in US shale production and hopes that oversupply may be curbed by output cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and others. US West Texas Intermediate (WTI) crude oil futures were trading up 38 cents at USD51.46 per barrel at 0035
GMT, after dropping to a one-week low on Wednesday at USD50.91 a barrel. Brent crude , the international benchmark for oil prices, was yet to trade after closing down 2.8 percent in the last session. "The IEA (International Energy Agency) said it expects higher oil prices to trigger a significant boost in US shale output," ANZ said in a note. "This is broadly in line with our estimate. However, we still expect the global oil market to move into a significant deficit in the first half of 2017." The market is seeking direction from weekly inventory data from the US Energy Information Administration (EIA), due at 1600 GMT. It has been delayed by a day due to a US public
Read more for Indian Stock Tips-http://www.aceinvestmentadvisory.com
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