Global Crude Oil Prices trading lower - ICICI Bank Global Markets

Global crude oil prices are trading lower on the back of strength in the Dollar. Further, expectations that US crude oil stock piles rose last week, ahead of the weekly report of the American Petroleum Institute due later today, are also weighing on prices. Brent is trading at USD 102.30/bbl compared to yesterday's close of USD 102.82/bbl. WTI is meanwhile trading at USD 94.80/bbl compared to yesterday's close of USD 95.17/bbl (17:30 IST).

Gold prices are trading lower, weighed by strength in the greenback. Global bullion backed ETF holdings fell to 2,225.9 MT yesterday, the lowest since July 2011, indicating weak investor demand. However, losses remained capped on account of firm consumer demand. Spot gold is currently trading at USD 1427.4/oz compared to prior close of 1430.0/oz

Source : Equity Bulls

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