Monday, 5 May 2014

MCX Crude Oil may trade 5940-6020 range, Natural Gas 278-287

Crude oil may open in red zone tracking weak international markets. Overall it can move in range of 5940-6020 in MCX. West Texas Intermediate slipped for a second day amid speculation crude inventories at a record high expanded further in the U.S., the world’s biggest oil consumer. U.S.

Crude supplies have climbed to the highest level since April 1931, monthly government data going back to 1920 show.

Reports before 1976 were based on Bureau of Mines figures, according to the Energy Information Administration, the Energy Department’s statistical arm.

Natural gas may move in range of 278-287 in MCX.
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