Crude Oil Fall today due to increased US Production

The fall in Crude Oil has increased. With the increase in supply, Brent’s price has come down to $ 55.50. While NYmax crude is trading near $ 50 This is the lower level of the last two weeks. In fact, crude production in the US last month reached level of 95.5 million barrels. There, the production again started to improve. OPEC’s production reduction has also been fully implemented. In spite of this, there is an estimate of crude overs supply in the global market. In such a situation, crude oil has not been able to boom.

Crude oil on MCX is trading around Rs. 3280 with 0.91% weakness. At the same time, natural gas has gone up by 190% with an increase of 0.31%.

@ Sold MCX Crude for Intraday Trading.