Brent Crude trading lower on profit bookin - ICICI Bank : Treasury Research

Brent is trading lower today on profit booking following substantial gains yesterday. Meanwhile, supply concerns due to political turmoil in Egypt gave some support to the oil prices and capped the downside. WTI is trading little changed today, extending yesterday's gains. The front-month WTI future is currently trading at USD 107.58/bbl compared to prior close of USD 107.33/bbl while Brent is trading at USD 109.99/bbl, compared to prior close of USD 111.11/bbl.

Gold prices are trading marginally lower today amidst a decline in investment demand as holdings in SPDR Gold Trust declined to 912.92 tonnes from 913.23 tonnes yesterday. Meanwhile, better than expected initial jobless claims data added to the fears of an early reduction in Fed's asset purchase program and weighed on the metal. Spot gold is currently trading at USD 1364/oz as compared to yesterday's close of USD 1366/oz.

Source : Equity Bulls

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