Crude Oil WTI crude Oil prices declined by 0.13% against the USD being the closing at $92.97 because the EIA has made the forcast lower for 2014 and 2015 having the reason behind the lower global demand expectations and the higher production from US. According to the demand API report, Crude Oil inventories have been declined by 1.9 million barrels, 0.5 million barrels higher than anticipated. In the Asian session Crude Oil Is being traded at marginally lower price. The Futures for October delivery are traded at $91.74 higher by 0.07%. The geopolitical situation and the strong greenback making the prices further low. The Chief investment officer at Ayers Alliance securities in Sydney said that the Production frontier is shifting and the Geopolitical situation is reducing now. The arrival of the winter season will boost the prices up. The recent 4-hour session oil reached the peak at $94.43 with a low trading at $91.86. However current price remains at $91.47 on PMEX. The 4-hour RSI stands at 33.9 indicating neutral momentum in the market, whilst Stochastic Oscillator stands at 22.31 indicating that the market is in sideways momentum. Leave your Contact no.or Email ID in the Comment box.We will call you to provide details. Z.I.J.
Posted on: Fri, 12 Sep 2014 18:15:00 +0000
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