Breaking News

You are here » Indian-Commodity  :  Commodities  :  Crude Prices Edge Lower On IMF Concern

13-Apr2011

Crude Prices Edge Lower On IMF Concern

Crude prices edged lower in a choppy trading on Tuesday as the International Energy Agency expressed concern that high prices will curb demand and slow economic recovery. Japan put its nuclear calamity on a par with Chernobyl that added the concern for demand.

Traders were eying industry group, the American Petroleum Institute`s inventory data to be released on late Tuesday. Oil inventory reports will offer a fresh snapshot of US demand and stockpiles.

Benchmark crude for May delivery fell $3.67, or 3.3%, to settle at $106.25 a barrel on the New York Mercantile Exchange. In London, Brent crude for May declined $3.06 to $120.92 a barrel on the ICE.

Related News

View all news

BT Cotton Seeds Businesses Targeting Earnings Of Rs 700 Crore This Season

BT Cotton seeds organizations are targeting earnings of Rs 700 cr this season as a result of a rise ......

Gold Challenges To Maintain Earlier Increases As The Problems In Europe Prolongs

Gold prices surrounded reduce on Monday because the euro solved their deficits in opposition to the ......

Copper Seems To Lengthen Uptrend As Dollar Recoils

Copper rates were able to lengthen the uptrend for 3rd instantly period on Monday, as traders proved......

Top News

View all news

PNB plans to sell non-core assets worth Rs 8,600 crore during FY19

Punjab National Bank (PNB) has recognized various assets, including its housing finance arm, for sale and hopes to realise Rs 8,600 crore from these non-core assets during the current fiscal. Meanwhile,......

SBI launches YONO six-day shopping festival

State Bank of India's (SBI) digital service platform YONO has launched a six-day shopping festival beginning October 16 in which customers using the app for shopping via online portals can avail discounts.......

Victory Paper to set up textile unit in Tamil Nadu

Victory Paper and Boards has received an approval for setting up of textile unit at Karur in the state of Tamil Nadu as a part of diversification of the operations of the company and purchase of 32.73......