Global Crude Oil prices trading marginally lower - ICICI Bank : Treasury Research

Global crude oil prices are trading marginally lower, holding on to yesterday's losses, on the back of strength in the greenback. Markets now await the weekly report by the American Petroleum Institute on US crude oil inventories, due later today, for further cues. The front-month WTI future is currently trading at USD 97.55/bbl compared to yesterday's close of USD 97.77/bbl while Brent is trading at USD 105.27/bbl, compared to yesterday's close of USD 105.47/bbl (17:30 IST).

Gold prices are trading lower, extending morning session's losses. Bullion prices declined by 0.70% today, amidst concerns over the possible tapering of the Fed's asset purchase programme, ahead of the US FOMC meeting that commences later today. Strength in the greenback also kept prices under pressure. Spot gold is currently trading at USD 1373.8/oz compared to prior close of USD 1385.3/oz (17:30 IST).

Source : Equity Bulls

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