ENERGY Expected rise in oil inventories monitored by the API and the EIA coupled with weak global market sentiments on account of QE taper worries are likely to act as a negative factor for the commodity today. But losses on the MCX will be prevented on the back of Rupee weakness. Price trend in case of natural gas is also expected to be bearish today as demand in the US could weaken as a result of unsupportive weather conditions for the commodity. But sharp losses in natural gas on the MCX will be cushioned on account of a weaker Rupee.
Posted on: Tue, 28 Jan 2014 05:07:49 +0000
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