Free Accurate MCX Crude Oil Tips -100McxTips @100mcxcommoditytips - Tumblr Blog

Oil Futures Prices Rise on Ongoing North Sea outage, Nigeria Strike

Oil futures prices rose on Monday amid running out of options to an ongoing North Sea pipeline and because a strike by Nigerian oil workers threatened its crude exports and increasing the risk of firms having to sell cheaply until at least late 2019.

US West Texas Intermediate (WTI) crude futures were at $57.66 a barrel, up 36 cents, or 0.6 per cent, from their last settlement.

Brent crude futures prices, were at $63.72 a barrel, up 49 cents, or 0.8 percent, from their last close.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

High prices came against the backdrop of Nigerian oil workers strike and the disruption of pipeline continuous North Sea pipeline, which provides crude oil, which supports Brent index.

Ineos announced in the North Sea for a force majeure on all oil and gas shipments through the pipeline system Forties last week after finding cracks.

Traders said the price hikes were little because of pipeline cuts in the North Sea, providing crude oil that supports the Brent index, as well as indications that US oil production growth could slow.

In the United States, energy companies cut drilling equipment for new production for the first time in six weeks to 747 in the week ending Dec. 15, according to Baker Hughes of the Energy Services Company on Friday.

Despite this decline in drilling, activity is still much higher than this time last year, when the number of rigs is less than 500, and actual US production has risen by 16 per cent since mid-2016 to 9.8 million barrels per day. That means US production is rapidly approaching the largest producers of Saudi Arabia and Russia, which are pumping 10 million barrels per day and 11 million bpd, respectively.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Oil Prices Bounce Back on Bets for Big Drawdown in U.S. Oil Supplies

Crude oil prices were higher in early trading on Wednesday, up from the previous session losses as industry data showed greater than expected in crude oil inventories in the United States declined, while expectations of continued long to close the main crude oil pipeline in the North Sea to strengthen markets.

Brent crude was up 69 cents at $64.03 a barrel. It had settled down $1.35 on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015.

U.S WTI crude futures tacked on 52 cents to $57.67 a barrel after sliding 1.5% a day earlier.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

The largest pipeline of oil and gas fields in the North Sea is expected to be closed for several weeks for repairs, its operator said Tuesday. The pipeline, carrying some 450,000 barrels per day of Fortis ore, has been closed after cracks were discovered.

It is particularly important for global markets because Fortis is the largest of the five crude oil groups that support the benchmark Brent index.

After Tuesday's adjustment, the US oil industry group said crude inventories in the United States fell by 7.4 million barrels last week. That is double the analysts' forecast of a decline of 3.8 million barrels.

Gasoline inventories rose 2.3 million barrels, compared with analysts' forecasts in a Reuters poll of 2.5 million barrels. Abu's data showed distillate fuel stocks, including diesel and heating oil, rose by 1.5 million barrels, compared with expectations of a gain of 902,000 barrels.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Crude Prices Lower as Oversupply Concerns Weigh by Rising US Drilling

Crude oil prices fell on Monday due to a drop in current output amid fears that a rise in US output could undermine OPEC's efforts to support the market by cutting off excess supplies.

The U.S. West Texas Intermediate crude January contract was down 24 cents or about 0.23% at $57.23 a barrel.

Brent crude futures, the international benchmark for oil prices, were unchanged at $63.40 a barrel.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

Oil prices have remained after the energy services company Baker Hughes on Friday stated that the number of US drilling rigs rose by two per week to 8 December to reach 751, the highest level since September.

This was the third consecutive increase. The high number of drilling rigs suggests increased oil production in the United States.

Increased US production threatens to block efforts by the Organization of Petroleum Exporting Countries and a group of non-OPEC countries, including Russia, to restore balance to the market by curbing production.

It remains some uncertainty about the extent of the group suddenly will increase production once the voluntary restraint. The oil minister said on Sunday that OPEC and other oil-producing countries would consider before June the possibility of developing an exit strategy from the agreement to reduce oil production.

Meanwhile, UAE Energy Minister Suhail said on Monday that the producers of OPEC and non-OPEC members planned announcement in June about the exit strategy of cuts.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Crude Oil Prices Steady As China Trade Figures Counters Stronger Dollar, US Rig Count Eyed

The futures contracts for crude oil prices almost steady in Asia on Friday as Chinese demand strengthens the US dollar, investors are looking to the weekly US statistics figures.

On the New York crude futures for January delivery was flat at $56.69 a barrel, while on London's Intercontinental Exchange, Brent crude futures prices, were steady at $62.20 a barrel.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

China's trade balance amounted to 40.21 billion dollars in November, official data showed on Friday, it said the expected 35 billion $ expected while imports jumped 17.7%, outpacing an increase of 11.3% and exports rose by 12.3%, better than the increase of 5.0% is expected.

China's January-November trade figures showed crude imports rose 12% to 386 million metric tons, while November crude oil imports amounted to 36.92 million metric tons.

China also reported imports of natural gas for the month of November reached 6.4 million metric tons and rose from January to November 26.5% to 60.7 million metric tons.

Traders said the strength of the dollar, which rose 0.9 percent this month against a basket of other major currencies, was affecting prices.

The size of China's imports of crude oil rose to 37.04 million tons in November, or 9.01 million barrels per day, the second highest record data according to the General Administration of Customs said on Friday.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Crude Oil Prices Move Higher to Near 2015 Highs on OPEC Extension Deal

Futures contracts for crude oil prices rose on Friday to reach its highest level since the summer of 2015, after being approved by major oil producers in the world to extend production cuts until the end of 2018 in a bid to curb global oil glut and price increases.

The U.S. West Texas Intermediate crude January contract was up 46 cents or about 0.80% at $57.84 a barrel.

Elsewhere, Brent futures were trading at $64.17 a barrel, with the new front month February up 60 cents, or 0.9 percent, from where the January contract expired on Thursday.

Prices rose after that followed the Organization of Petroleum Exporting Countries / OPEC / countries and non-OPEC Russia, headed by market expectations and agreed on Thursday to extend its supply from March 2018 until the end of next year.

Oil has risen by about 17% since the last time the producers to hold a formal meeting in late May / May with the failure of the major oil producers another round of negotiations until June rally.

The Saudi Energy Minister Khaled Al-Faleh said stocks are expected to fall to the desired goals in the second half of 2018, although he admitted that production from other regions, such as the production of oil shale in the United States, remained unknown.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Crude Oil Prices Continue to Slide on Pipeline Restart with OPEC Meeting on Tap

Crude oil prices fell for the second consecutive day on Tuesday, as investors wait for the highly anticipated global oil producers meeting scheduled to be held on Thursday and expected to increase the supply line with the restart Keystone pipeline.

The U.S. West Texas Intermediate crude January contract was down 22 cents or about 0.38% at $57.89 a barrel, off Friday's two-year highs of $59.05.

Elsewhere, Brent futures had fallen to $63.72 a barrel, down 12 cents, or 0.2 per cent, from their previous close.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

It will meet the Organization of Petroleum Exporting Countries members (OPEC), the main and other producers, including Russia, on November 30 to discuss whether they will continue the cuts after they agreed last January to withdraw 1.8 million barrels per day of production.

UAE Energy Minister Suhail bin Mohammed Al Mazroui said Tuesday that while the meeting would not be easy, he was personally optimistic that the producers would reach an agreement that would serve the market.

The Saudi Energy Minister Khaled al-Faleh said the oil market should wait for the outcome of the OPEC meeting this week when he was asked on Tuesday in Dubai for a period that may extend the cuts by producers.

The Russian Economy Minister Maxime Ayryckin announced on November 23 that the Russian economy is affected negatively in October because of the restrictions imposed on Moscow agreed to cut production by 300 thousand barrels per day.

But fears that the rise in US output leads to a reduction of OPEC's efforts to rid the market of excess supplies to prevent prices from rising more than that, according to market participants.

Local GDP has rebounded by almost 15% since the last decline in mid-2016, and increased drilling activity for the production of new means of production is expected to increase more, attracting producers by climbing prices.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Crude Oil Prices Mixed on Increased Drilling With OPEC Meeting in Focus

Crude oil prices were mixed on Monday ease the highest level in two years, where the markets were volatile ahead of the expected global oil producers meeting scheduled to be held on Thursday. And support for a possible increase in US production.

The U.S. West Texas Intermediate crude January contract was down 76 cents at $58.19 a barrel, off Friday's two-year highs of $59.05.

Brent crude futures were at $63.85 a barrel, virtually unchanged from their last close.

Investors remained cautious as scheduled to meet oil ministers from the Organization of Petroleum Exporting Countries and other major producing countries in Vienna on Thursday to decide whether to extend the current production agreement until after the deadline in March 2018.

Russia said on Friday it was ready to support the expansion of the agreement, but it did not say how long it should continue until after the end of March.

Traders said US crude oil production has risen 15 percent since mid-2016 to 9.66 million bpd, not far from Russian producers and Saudi Arabia, and increased drilling activity to produce new production means is expected to grow further.

Last week, US energy companies added oil platforms, with the number of drill rigs per month for the first time since July to 747 active, attracting producers by climbing crude oil prices.

WTI fell Friday at $ 59.05 a barrel on Friday, partly supported by the closure of the 590,000 bpd Keystone pipeline linking Canadian sandfields with the United States after a spill, leading to a drop in stocks.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

WTI Crude Oil Prices Bounce Back But Upside Limited; US Rigs Count Data Eyed

Crude oil prices rose in the West Texas Intermediate crude on Friday as investors invested news earlier in the week for another increase in US stocks amid growing hopes that the oil producers of the Global agrees to extend production cut measures.

It resumed WTI put recovery of the lowest weekly level and took advantage briefly on the handle 56, before it softens a little bit to enter into a consolidation phase below the latter level.

The U.S. West Texas Intermediate crude December contract was up 70 cents or about 1.27% at $55.84 a barrel.

At the time of writing, Brent rises 0.85% to $ 61.90.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

Oil prices have come under pressure after the US Department of Energy reported on Wednesday that crude oil inventories rose by 1.9 million barrels last week, representing a second increase respectively, compared with analysts' expectations, down 2.2 million barrels.

The report also showed that domestic production rose by 25 thousand barrels per day to 9.645 million. The output has now risen by about 15% since the last decline in mid-2016, raising doubts over the past few months are listed for tightening energy markets.

Oil has increased strongly in Europe, partly in response to a new sale seen in the US dollar over its main rivals, where American political unrest will continue to influence the minds of investors. The weakness of the US dollar makes dollar-denominated oil less expensive for foreign currency holders and vice versa.

Moreover, it can not be judged higher profits in the oil, we are heading towards the United States count data platforms as well as the weekly close, with the goods on the right track to book the first weekly loss in six weeks.

Under the original terms of the agreement, approved by OPEC and 10 other countries, non-OPEC members, led by Russia to cut production by 1.8 million barrels per day for a period of six months. It was the extension of the agreement in May this year for another nine months until March 2018 to try to reduce global oil inventories and support oil prices.

Discussions are continuing in the period, which will be preceded by the meeting of November 30, which will be attended by oil ministers from OPEC countries participating non-OPEC.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Oil Drop Further on Bets for Bearish U.S. Supply Data; Over Demand Outlook

Oil futures prices fell further on Wednesday, resulting in heavy losses from the previous session amid speculation weekly supply data later in the day will show a significant increase in crude oil inventories in the United States. In addition to the International Energy Agency has raised doubts over the past few months are listed to tighten fuel markets.

U.S. WTI crude futures shed 56 cents, or about 1%, to $55.14 a barrel. It reached its lowest level since Nov. 3 at $54.81 in the last session.

Brent crude futures were at $61.47 per barrel, down 74 cents, or 1.2 per cent from their last close.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

The US Energy Information Administration will release its weekly oil supply report for the week ending Nov. 10 at 10:30 am (15:30 GMT).

After the markets closed on Tuesday, the API said that US oil inventories rose by 6.5 million barrels last week. Compared with analysts' forecasts of a decline of about 2.2 million barrels.

The API report also showed gains of 2.3 million barrels in gasoline stocks, disappointing outlook for a drawdown, while distillation stocks fell 2.5 million barrels.

A sluggish demand could mean global oil consumption may not exceed 100 million bpd next year, while supplies are likely to exceed that level.

The International Energy Agency (IEA) said the Organization of the Petroleum Exporting Countries (OPEC), which just one day ago said 2018 would see a strong rise in demand for oil.

On the supply side, rising US output has also led to pressure on prices.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Crude Prices Mixed on West Asian Tensions; Conflicting Signals

Crude oil prices were mixed on Monday, as markets were both evaluating the impact of ongoing tensions in West Asia and rising production in the U.S.

The U.S. West Texas Intermediate crude December contract was up 6 cents at $56.81 a barrel, still within close distance of the previous week's two-year peak of $57.92.

Brent crude futures were at $63.57 per barrel, up 5 cents from their last close.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

Oil prices were under pressure after oilfield services firm Baker Hughes said on Friday that the number of active US oil drilling platforms rose from 9 to 738 last week. It was the biggest jump since June, raising concern that oil shale producers in the United States will increase production as prices rise near a 28-month high.

The number of rigs weekly important barometer for the drilling industry, which is a substitute for domestic oil production.

But the commodity has been buoyed by potential supply disruptions in the Middle East amid heightened tensions between Saudi Arabia and Iran.

Traders said crude oil prices were broadly supported by current output cuts led by the Organization of Petroleum Exporting Countries (OPEC) and Russia has contributed to a significant reduction in excess supplies, which have been hard markets since 2014.

On the supply front, tensions in West Asia have raised the prospect of unrest, adding that it is not clear whether the strong earthquake that hit Iran and Iraq yesterday has affected oil production in the region.

Bahrain announced at the end of the week that the blast, which caused a fire in the main oil pipeline on Friday, was a cause of sabotage linking the attack with Iran, which denied any role in the incident.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Crude Oil Prices Remain Stable Near 2-Year Highs

Crude oil prices remained supported near the highest level in the past two years on Thursday after falling in the previous session, as optimism about the re-balance the market compensates the news about the sudden increase in US inventories last week.

The U.S. West Texas Intermediate crude December contract was up 11 cents or about 0.19% at $56.92 a barrel, not far from the previous session's fresh two-year peak of $57.91.

Brent futures were at $63.58 per barrel, up 9 cents, or 0.1 per cent, from their last close, but over $1 off the more than two-year high of $64.65 reached earlier this week.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

Oil prices have stabilized near their highest levels in several years after losses were recorded in the previous session when the US Energy Information Administration said in its weekly report that crude oil inventories rose by 2.2 million barrels in the week ending Nov. 3.

Market analysts expected a loss in crude inventories of about 2.9 million barrels.

Markets remained supported by growing expectations that the oil-producing countries would agree to extend its production at its meeting at the end of this month.

OPEC will discuss output policy at a meeting on November 30 and is expected to present the Group to extend the cuts until after its expiry in March 2018.

In spite of this, many analysts say the strong rise in prices over the past months may be the most likely path, at least so far.

On the demand side, global oil demand is still strong, although the latest figures from the top importer of China came in below expectations.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Crude Oil Prices Continue to Hover Near 2-Year Highs Amid Tightening Markets, Saudi Purge

Crude oil prices hit their highest level near the highest in two years on Monday, with the tightening of markets, while strengthened expectations that the oil-producing countries will agree to extend production at their meeting at the end of this month.

U.S. WTI crude December contract was up20cents or about 0.36% at $55.80a barrel, just off a two-year high of $56.24 hit overnight.

Brent futures prices were as high as $62.90 per barrel on Monday, their highest level since July 2015. This is over 40 per cent above June's 2017 lows.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

Discussions are continuing in the period, which will be preceded by the meeting of November 30, which will be attended by oil ministers from OPEC countries participating non-OPEC.

Crown Prince Mohammed bin Salman, also known as "AMPS", his grip on power has been stressed by clearing the fight against corruption by arresting owners, ministers and investors, including the famous Alwaleed bin Talal commercial billionaire, the head of the National Guard Prince Miteb bin Abdullah.

Bin Salman's reforms include a plan to include parts of the state-owned giant oil company in Saudi Aramco next year, and the rise in oil prices is beneficial to the market capitalization of the listed company in the future. On the fundamentals of oil, traders said that there are continuing indications of tightening market conditions.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Crude Under Pressure But Remain Near Recent Highs on OPEC-led Supply Cuts

Crude oil prices were under pressure on Thursday, influenced by higher exports of crude oil in the United States, where he stressed the major OPEC exporters and other supplies on the market maintained the item near the highest level in recent times.

The U.S. West Texas Intermediate crude December contract was down 8 cents or about 0.18% at $54.20 a barrel,just off Wednesday's 10-month peak of $55.22.

Benchmark Brent crude was down 20 cents at $60.29 a barrel. On Wednesday, Brent reached its highest intraday level since July 2015.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

US oil production grew by 46,000 barrels per day to 9.55 million bpd, not far from the June 5, 2015 level of 9.61 million barrels, while US crude oil exports rose to a record high of 2.13 Million barrels per day.

The current increase in crude oil exports in the United States as the WTI and Brent crude prices continue to increase in international demand for US crude oil are cheaper.

The rise in production was overshadowed by a mixed report from the Energy Information Administration, with crude oil and gasoline stocks showing more than expected, while distillation fell less than expected.

Oil also helped lower US crude inventories despite rising production. US crude inventories fell by 2.4 million barrels a week to 27.44 million barrels in the week, according to data from the Energy Information Administration.

This came despite an increase in production of 46,000 barrels per day to 9.55 million barrels per day. US crude output has now risen 13 per cent since mid-2016.

Confidence has been fueled thanks to the efforts made by the Organization of Petroleum Exporting countries and Russia in the current year to decline about 1.8 million barrels per day in oil production to tighten markets.

Saudi Arabia's energy minister Khalid Al-Falih said on Thursday that supply and demand assets were rising and oil stocks were falling while compliance with the Organization of Petroleum Exporting Countries (OPEC) deal to limit supply was "excellent".

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Crude Oil Hits Highest Since Mid-2015 After Data Shows Sizable Drop in U.S. Crude

Oil futures prices rose to gains on Wednesday since mid-2015, after data showed a significant drop in oil and gasoline stocks in the United States last week. In addition, the data showed that OPEC had improved significantly from the commitment to the reductions that have been pledged, and it is also expected that Russia maintains this deal.

U.S. West Texas Intermediate (WTI) crude futures tacked on 45 cents, or around 0.9%, to $54.84 a barrel.

Brent crude futures were up 59 cents at $61.53 per barrel, having hit a session peak of $61.70 earlier, the highest since July 2015.

Visit here for live Crude, Brent prices: http://100mcxtips.in/crude-oil-prices-chart.

Crude oil inventories fell by 2.4 million barrels in the week ending Oct. 29, the US Energy Information Administration said in its weekly report.

Compared with analysts' expectations of a decline of 1.7 million barrels, while the American Petroleum Institute reported late on Tuesday a drop in supply from 5.1 million barrels.

The agency said that supplies in Cushing, Oklahoma, the main delivery point of crude Nymex rose by 90 thousand barrels last week.

Total crude oil inventories in the United States totaled 454.9 million barrels last week, which was considered an environmental impact assessment in the upper half of the average at this time of year.

The report also showed that gasoline stocks fell by 4.0 million barrels, much more than expectations of a decline of 1.5 million barrels. For distillation stocks including diesel, the US Energy Agency recorded a decrease of 0.3 million barrels.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Oil futures near two-year highs as supply cuts bite; buttressing $60 brent

Oil futures prices fell on Tuesday after a week of gains where the prospect of increasing US exports to weaken the bullish sentiment that supported the rise in Brent futures through $ 60 a barrel.

Brent futures for December 2017 are now treading at a premium of more than $2 . Brent was down 30 cents at $60.60 a barrel, not far off July 2015-highs reached earlier this week, and up around 37 per cent since their 2017 lows last June.

At the Multi Commodity Exchange, crude oil for delivery in November declined by Rs. 9 or 0.26 per cent to Rs. 3,504 per barrel.

Globally, the US benchmark West Texas Intermediate for delivery was down 13 cents or 0.24 per cent at $54.02. and also not far off its highest for more than two years.

Traders and brokers said that investors were adjusting positions after a 5% increase in prices in October.

Despite the generally optimistic sentiment, some analysts also warned that the market was overbought, having risen too much and too fast.

Despite falling prices on Tuesday, the sentiment remained positive, backed by the promise of the Organization of the Petroleum Exporting Countries (OPEC), Russia and other exporters to recover about 1.8 million bpd in production from oil to adjust the markets.

While the actual cuts are not as high as the target, analysts say that overall compliance was strong.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Oil Futures Prices Rose on Tightening Supply, Drop In U.S. Rig Count

Oil futures prices rose on Monday due to supply in the Middle East and fears showed scent digit numbers from the United States more stress signs while the demand in Asia is on the rise.

U.S. West Texas Intermediate (WTI) crude futures rose 0.42% to $52.06 a barrel.

Meanwhile, Brent crude futures prices, were at $57.90, up 15 cents, or 0.26 per cent, from their last close.

At the Multi Commodity Exchange, crude oil for December delivery was trading higher by Rs. 27 or 0.8 per cent at Rs. 3,422 per barrel.

A source in the shipment said oil exports from Iraqi Kurdistan to the Turkish port of Ceyhan are flowing at an average of 216 thousand barrels per day compared to flows of 600 thousand barrels per day.

The turbulence of supply in Iraq comes amid a state of continuing political uncertainty in the region after the conflict between Iraqi and Kurdish forces. Iraqi forces moved into northern Iraq earlier this week and regained control of two key oil fields from Kurdish forces.

Baker Hughes Services Company Public Power, a subsidiary of General Electric said today that the amount of US oil rigs for new production fell by 7 to 736 in the week until October 20, the lowest level since June.

Much will depend on the demand for direct prices, with the tightening of the US market, and the decline in flows from Iraq because of fighting between government forces and armed groups of Kurdish, and Mahtgera production still in the framework of an agreement between the Organization of Petroleum Exporting Countries (OPEC)) and producers outside OPEC to tighten the market.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Crude Continue to Decline, U.S. Oil Facilities Close for Nate

Oil prices continued to decline on Friday as traders grew cautious because of the possibility of rising US crude stocks due to the upcoming tropical storm Nate and China remained closed for an official week-long holiday.

The U.S. West Texas Intermediate crude November contract was down $1.28 or about 2.52% at $49.55 a barrel, its lowest since September 19.

Brent crude was down 12 cents at $56.88 a barrel.

Prices have fallen when traders monitor Tropical Storm Nate, which was heading to the Gulf of Mexico and is expected to develop into a hurricane over the weekend.

BPD Chevron closed production on all Gulf platforms on Friday, while Royal Dutch Shell and Anadarko Petroleum closed some Gulf activities.

Earlier this week, the commodity benefited from the possibility of OPEC cutting oil production.

Russian President Vladimir Putin said on Wednesday that the Organization of Petroleum Exporting Countries (OPEC) and other producers, including Russia, to cut oil production to boost prices could extend until the end of 2018 instead of ending in March 2018.

The Saudi Energy Minister said his country was "flexible" with regard to the extension of the agreement until the end of 2018.

King Salman of Saudi Arabia, OPEC's de-facto leader, met with Russian President Vladimir Putin in Moscow on Thursday to discuss, among other things, oil policy.

Saudi Arabia has not formally pledged to expand an agreement between OPEC, Russia and other producers on reducing supplies, but said it was "flexible" in terms of proposals to extend the deal until the end of 2018.

A deal to cut 1.8 million bpd in production has been reached since January and is due to expire at the end of March 2018. With the possibility of prolonged cuts, analysts have raised the price forecast.

DON’T MISS any timeline heading about Energy Commodity market with 100McxTips Follow us on Twitter (https://twitter.com/100mcxtips) and Like Facebook page (https://www.facebook.com/100mcxtips)

For Live MCX Prices Visit here: http://100mcxtips.in/commodity-live-prices And for free advisory calls visit here: http://100mcxtips.in/mcx-commodity-tips-free-trial

Trending Blogs

Recently Viewed Blogs

Free Accurate MCX Crude Oil Tips -100McxTips