Back Office Login

you are here: Commodity | News | End Session Commentary| Detailed News
As on: May 27, 2018 05:21 PM
Energy Preview: MCX Oil Spurts 1%, Sentiments Remain Upbeat
17-May-18   18:50 Hrs IST

WTI Crude oil futures stayed supported today, breaking well above $70 per barrel to test its highest levels in four years. The market has not been hurt much by a downward revision in oil demand growth for second half of 2018. MCX Crude oil futures are also trading up 1% at Rs 4868 per barrel. According to a monthly update from the International Energy Agency (IEA), the global oil demand growth for 2018 has been revised slightly downwards from 1.5 mb/d to 1.4 mb/d. While recent data confirms strong growth in 1Q18 and the start of 2Q18, the IEA expects a slowdown in 2H18 largely attributable to higher oil prices. World oil demand is expected to average 99.2 mb/d in 2018.

Global refining throughput is on the rise with runs expected to hit a record 83 mb/d in July-August. Throughput growth, however, is not sufficient to cover all refined products demand, with stock draws expected to persist through 2Q18 and 3Q18. The agency noted further that the decision by the United States to withdraw from the Joint Comprehensive Plan of Action regulating Iran's nuclear activities has switched the focus of oil market analysis from the fundamentals to geopolitics. In these early days, there is understandable uncertainty about its potential impact on Iran's oil exports, which are currently about 2.4 mb/d.

Powered by Commodity Insights

For Business enquiry, call on: 011 45046022 / 45046000 or email to: partner@skicapital.net   contact@skicapital.net
SKI CAPITAL SERVICES LIMITED CIN : U74899DL1993PLC054443 / SKI CONSULTANCY SERVICES LIMITED CIN : U74140DL1999PLC098321
Surya Kiran Investment & Capital Services Pvt. Ltd.    Address: 718, Dr. Joshi Road, Karol Baug, New Delhi 110 005
* Insurance is in the name of Surya Kiran Investment & Capital Services Ltd. IRDA No: CA0177
Hit Count : 6281533
plus
minus
CIN: U67190DL2012PTC246572, IRDA No: CA0177, AMFI- ARN-118937. NSE Cash / F&O / Currency- INB / INF / INE-230815339, BSE Cash /F&O-INB / INF010815331, BSE Currency- Exchange Regn., MSEI Currency- INE260815339, DP IN-DP-NSDL-129-2000, DPID IN 301508, IRDA Reg. No.CA0490, SKI Consultancy Services Ltd Member: NCDEX, MCX, SEBI Reg No INZ00005283, M. No. NCDEX 00433, MCX 16200.
Exchanges / Depository : Prevent Unauthorized Transactions in your Trading / Demat Account. Update your Mobile Numbers / email IDs with us. Receive alerts on your Registered Mobile / email IDs for trading account transactions and all debit and other important transactions in your demat account directly from Exchange / NSDL on the same day | KYC: KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary. | Note: "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Copyright 2011. SKI. All Rights Reserved Designed , Developed & Powered By C - MOTS Infotech(ISO 9001:2015 certified)