Home

 
India Bullion iPhone Application
  Quick Links
Currency Futures Trading

MCX Strategy

Precious Metals Trading

IBCRR

Forex Brokers

Technicals

Precious Metals Trading

Economic Data

Commodity Futures Trading

Fixes

Live Forex Charts

Charts

World Gold Prices

Reports

Forex COMEX India

Contact Us

Chat

Bullion Trading Bullion Converter
 

$ Price :

 
 

Rupee :

 
 

Price in RS :

 
 
Specification
  More Links
Forex NCDEX India

Contracts

Live Gold Prices

Price Quotes

Gold Bullion Trading

Research

Forex MCX India

Partnerships

Gold Commodities

Holidays

Forex Currency Trading

Libor

Indian Currency

Advertisement

 
OL: Oil Prices Slip Further On US Inventory Report
 
Oil slipped further below $56 a barrel (bbl) on Feb. 15 as an industry report showing a large rise in U.S. crude inventories signaled ample supply, even as OPEC achieves record compliance with its supply-cut accord.

U.S. inventories rose by a larger-than-expected 9.9 MMbbl last week, the American Petroleum Institute (API) trade group said on Feb. 14, ahead of the Energy Information Administration's (EIA) official supply report.

"The inventory trend in the U.S. raises doubts about whether the OPEC production cuts have actually resulted already in a tighter supply situation," said Carsten Fritsch, analyst at Commerzbank.

Brent crude was down 13 cents at $55.84 by 4:40 a.m. CT (10:40 GMT), half its level of mid-2014, when a global glut started a collapse in prices. West Texas Intermediate crude fell 23 cents to $52.97.

To support prices, OPEC and other producers including Russia are cutting output by almost 1.8 MMbbl/d in the first half of 2017.

Source