Crude Oil prices are trading marginally lower today - ICICI Bank : Treasury Research

Crude oil prices are trading marginally lower today as weak US labour market data weighed on the outlook on oil demand. International Energy Agency projected that daily oil supply from non-OPEC countries will rise by 1.3 mbpd, surpassing the increase in daily consumption by 1.2 mbpd in 2014, which further added to the bearishness in prices.

The front-month WTI future is currently trading at USD 104.78/bbl compared to prior close of USD 104.91/bbl while Brent is trading at USD 107.6/bbl, compared to prior close of USD 107.7/bbl.

Source : Equity Bulls

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