mcx commodity tips
Brent crude futures clasp above $48 on Tuesday as a weaker dollar offset the collision of a global supply glut, with traders questioning if the nearly 60 % price slide since June has run its course.
Brent strikes $45.19 on 13 January, the lowest since 2009 and fall downward from a June 2014 peak of $115.71, but has since traded in a small band of $47 to $50.62. The market is looking for the right impetus to push oil prices higher.
Brent was moderately higher on Tuesday did not surely mean the route was over yet. Brent futures were trading at $48.28 a barrel, upward 12 cents, by 1438 GMT. Oil prices have sinked nearly 60 % since peaking in June, driven lower by ample supplies from the US shale oil boost.
0 comments:
Post a Comment