Crude oil futures ended with slim losses in the domestic market on Wednesday as investors and speculators were cautious over booking new positions in the energy commodity tracking a weak trend in the overseas market after US crude oil stockpiles increased last week, signaling tepid desired for the fuel in the world’s largest fuel consumer. US crude oil stockpiles increased by 14.3 million barrels last week, the API said. Industrial output in the US increased at a slower than expected pace of 0.2 % in January from December, when it slide 0.3 %, while manufacturing output climbed a tepid 0.2 %, signaling a slowdown in the world’s largest economy, clouding the desired outlook for the fuel. Housing starts slide in the US last month, signaling a faltering housing market regaining. Starts decreased 2 % to a 1.07 million annual rate in January. Crude oil futures may slide today ahead of EIA data which may show an uptick in US crude oil inventories last week. Crude oil futures, for the February 2015 contract, ended at Rs 3,245/barrel, downward by 0.06 %, after opening at Rs 3,276, against the last ending price of Rs 3,247. It touched an Thursday, February 19, 2015
Commodity Market News For 19 February 2015
Crude oil futures ended with slim losses in the domestic market on Wednesday as investors and speculators were cautious over booking new positions in the energy commodity tracking a weak trend in the overseas market after US crude oil stockpiles increased last week, signaling tepid desired for the fuel in the world’s largest fuel consumer. US crude oil stockpiles increased by 14.3 million barrels last week, the API said. Industrial output in the US increased at a slower than expected pace of 0.2 % in January from December, when it slide 0.3 %, while manufacturing output climbed a tepid 0.2 %, signaling a slowdown in the world’s largest economy, clouding the desired outlook for the fuel. Housing starts slide in the US last month, signaling a faltering housing market regaining. Starts decreased 2 % to a 1.07 million annual rate in January. Crude oil futures may slide today ahead of EIA data which may show an uptick in US crude oil inventories last week. Crude oil futures, for the February 2015 contract, ended at Rs 3,245/barrel, downward by 0.06 %, after opening at Rs 3,276, against the last ending price of Rs 3,247. It touched an
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