Crude oil drops after Goldman Sachs cuts price forecast
12/01/2015 12:09
Crude oil prices fell by 0.60 per cent on Monday at the domestic markets as Goldman Sachs lowered its short-term price outlook, while refineries in Ohio and Pennsylvania were hit by fires over the weekend, curtailing demand for crude in the U.S. Goldman Sachs lowered their three-month price forecast for Brent to $42 a barrel from $80. They set their forecast for U.S. crude at $41 a barrel, down from $70, adding it would need to stay near $40 for most of the first half of 2015 before it would hold up shale oil investments. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 2,965 per barrel, down by 0.60 per cent, after opening at Rs. 2,971 against the previous closing price of Rs. 2,983. It touched the intra-day low of Rs. 2,955 till the trading. (At 12.03 PM today).
12/01/2015 12:09
Crude oil prices fell by 0.60 per cent on Monday at the domestic markets as Goldman Sachs lowered its short-term price outlook, while refineries in Ohio and Pennsylvania were hit by fires over the weekend, curtailing demand for crude in the U.S. Goldman Sachs lowered their three-month price forecast for Brent to $42 a barrel from $80. They set their forecast for U.S. crude at $41 a barrel, down from $70, adding it would need to stay near $40 for most of the first half of 2015 before it would hold up shale oil investments. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 2,965 per barrel, down by 0.60 per cent, after opening at Rs. 2,971 against the previous closing price of Rs. 2,983. It touched the intra-day low of Rs. 2,955 till the trading. (At 12.03 PM today).
