Crude oil declined today as macroeconomic data in the United States was bad. Purchasing Managers’ Indices released by both Markit and Institute for Supply Management showed slowing expansion of the services sector. The data followed yesterday’s report about decline of factory orders. Signs of slowing economic activity are usually detrimental to
Losses were capped by supportive fundamentals, including the OPEC+ supply cuts and political unrest in Venezuela. The United States announced sanctions against
Contract for delivery of WTI crude oil in March declined 1.3% to $53.85 per barrel as of 17:46 GMT on NYMEX today. April futures for Brent crude fell 0.69% to $62.08 per barrel on ICE.
If you have any questions and comments on the commodities today, use the form below to reply.
What is the outlook for NG for next quarter.
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