Mcx Crude Tips : Prices of Oil approach 20% fall since 2016 starting

Today's Mcx crude tips & updates : Oil prices continued a constant dive early approaching a 20 per-cent drop since the beginning of the year as experts & traders struggling to cut their 2016 oil price forecasts & traders bet on further price falls.

U.S(United States) crude West Texas Intermediate (WTI) were trading at $31.15 per barrel at 0139 GMT, today, went down 26 cents from their last settlement & almost 19 per-cent lower than at the starting of the year. WTI has shed over 70 per-cent in value since the downturn began in mid-2014.

Brent crude futures fell down by 20 cents to $31.35 a barrel, their lowest since April 2004. Brent has fallen around 20 per-cent in January &, like wise WTI, went down on every day of trading so far current year.

Trading data concluded that managed short positions in WTI crude contracts, which would profit from a further fall down in prices.

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