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Expect Crude Oil prices to trade positive today: Angel Commodities

May 20
03:05 2017

Angel Commodities’ report on Crude Oil

WTI oil prices rose by 0.6 percent on Thursday to close at $ 49.4 per barrel s key producing countries suggested they would extend supply cuts to reduce an ongoing global crude glut.

Outlook

We expect oil prices to trade higher today continuing its positive momentum from the previous trading session as markets remain confident of production cuts by the OPEC as well as Non-OPEC nations. On the MCX, oil prices are expected to trade positive today, international markets are trading higher by 0.75 percent at $ 49.73 per barrel.

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