Expect Crude Oil prices to trade lower: Angel Commodities

Angel Commodities’ report on Crude Oil

WTI oil prices declined by around 0.8 percent last  week  while MCX oil prices rose marginally by 0.2 percent in the same time frame. Risk of renewed U.S. sanctions on Iran, plunging Venezuelan output, and robust global demand shook off the effects of a strong dollar on oil prices.


We expect oil prices to trade lower today as US rig count surged to three year high last week. However, concerns that the Trump might decide to restore sanctions on Iran on May 12 will limit sharp downside.

For all commodities report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.