Oil is trading lower

Market news

8 February 2017

Oil is trading lower

This morning the New York futures for Brent fell 0.44% to $ 54.82 and WTI was down 0.82% to $ 51.74. Thus, the black gold prices traded in the red zone, on the background of the increase in US oil inventories and weakening demand from China. US crude stocks rose by 14.2 million barrels to 503.6 million over the week, according to API while analysts had expected an increase of 2.5 million barrels.

Option expiries for today's 10:00 ET NY cut

Reserve Bank of India kept the policy repo rate unchanged at 6.25%

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