Commodities » Energy
Nymex crude oil prices closed at $74.43/bbl on Thursday.
August 20, 2010, Friday, 16:14 GMT | 11:14 EST | 20:44 IST | 23:14 SGT
By Mr. Naveen Mathur, Reena Walia Nair (Angel Broking)
MARKET RECAP
Crude oil prices declined more than 1.3% on the Nymex stage on Thursday to close at $74.43/bbl. Crude oil prices hit an intra-day high of $76.10/bbl yesterday. On the weekly basis, crude oil prices have declined about 1.4% on the Nymex and by 2% on MCX stage.
OUTLOOK
Crude oil prices will take cues from the movement in the DX today. The DX is expected to remain to trade on the positive note today and this factor will exert pressure on the crude oil prices.
Natural gas prices will take cues from the crude oil prices.
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