Today, Crude Oil fell near to USD 37 a barrel on trading within sight of an 11-year low, pressured by excess supply that has more than halved prices since the downturn began in mid-2014.
US(United States) crude was trading below global benchmark Brent, having earlier in Dec risen to a premium for the 1st time in the whole year following the lifting of a 40-year-old ban on most US(United States) crude exports. Brent crude went down 85 cents at USD 37.04 a barrel at 1255 GMT.
It fell down to 35.98 USD, an 11-year low, today. US(United States) crude went down USD 1.16 at USD 36.94. Trading volume was lighter than normal due to a UK holiday. We estimate both prices to increase in next year, a short-term slip can't be excluded, due to persisting oversupplies, negative sentiment & powerfull downside momentum.
Read More : Mcx crude tips
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