CAPITALSTARS MCX COMMODITY CRUDE OIL NEWS UPDATE : 02 August 2019

Capitalstars Investment Advisor

• Energy Preview: Crude Slides Nearly 7% On MCX

WTI Crude oil fell nearly 7% yesterday after President Donald Trump announced plans to impose a 10% tariff on the remaining 300 billion worth of Chinese imports. Weak economic data also weighed on the commodity. The counter currently trades at 55 per barrel, up 2% on the day - rebounding in Asian trades on bargain buying. MCX Crude fell 6.70% to end at Rs 3760 per barrel yesterday. Oil traders are focussing on falling Saudi exports and drop in US Crude inventories. The US Energy Information Administration (EIA) reported a heavy decline in crude inventories this week. The EIA said crude oil inventories saw a draw of 8.5 million barrels in the week to July 26, to a total 436.5 million barrels, which was at the five-year average for this time of the year. Last week, the EIA had reported a 10.8-million-barrel inventory draw. According to the EIA, total motor gasoline inventories fell by 1.8 million barrels last week and were about 2% above the five-year average for this time of year.

CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY  -
Visit our Link : https://bit.ly/2u2GUhK
Visit My Website : https://bit.ly/1h8KZUM
CAPITALSTARS CALL US : 9977499927
Equity Tips , Intraday Stock Tips , FreeTrading Tips  , Sebi Registered advisory