8:12 PM
Nifty Tips
Crude Oil
WTI Light sweet crude oil future prices are trading in a positive trend both in electronic platform and MCX, India. Declining inventory report released by API and expectation of falling inventory in today’s DOE report is
supporting oil price movement. Gasoline inventory is expected to remain unchanged, whereas Distillates is expected to decline by 1000K barrels. Tropical storm Tomas became tropical depression, still expecting Most of the Asian equity market closed in a negative note, whereas a positive trend can be seen in European market movement. Dollar index has been erased its intraday gain .PMI services data for the month of October resulted positive for the UK economy. In the evening, most of the economic releases are expected to have positive impact on commodity market movement. However, we may expect crude oil prices to trade in a positive trend,
ahead of economic releases and actual inventory data releases in the evening.
Natural Gas
Natural gas are trading in a positive trend in the MCX, whereas a flat trading is seen in the electronic platform.Strorage data expectation has been declined from the prior data, which also supports price movement. National hurricane centre has reported about tropical storm Tomas, which became tropical depression still expecting to restrengthen.In the evening, most of the economic releases are expected to have positive impact on economy. Thus, we may expect natural gas prices to trade steadily, ahead of economic releases in the evening.
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