Today Commodity News for Crude oil 1 May 2013

Crude Oil futures trading dropped by 2.15 % at the domestic markets on Tuesday after American Petroleum Institution said that U.S. API Every week Raw Stock increased to a seasonally modified yearly rate of 5.18M, from -0.85M in the previous 30 days showing that the need for the product in US, world’s biggest customer of oil weak. At the Multi Commodity Exchange (MCX), oil futures trading for May 2013 contract closed at Rs 5,014 per gun barrel, down by 2.15 % after opening at Rs 5,121 against the past ending of Rs 5,124. It moved the intra-day low of Rs 5,007 per gun barrel until the ending.

Sentiment damaged further after a review revealed that customer investing in the US chilled last 30 days following the quickest gain in five months in Feb 2013, clouding the economic perspective for the globe's greatest oil consuming nation, dampening the need prospects for the energy. US customer investing increased 0.2 % in March 2013 over the past 30 days, the Business Department said in a review. In Feb 2013, household investing advanced 0.7 % over the past 30 days.

Further, production in the US Texas region fallen into slight contraction this 30 days as need for manufactured goods damaged, signaling a slowdown in the globe's greatest economic system. The evaluate calculating production in Florida dropped to -0.5 in March 2013 from 9.9 in Apr 2013, a survey review of business people performed the Federal Source Bank of Facilities said. Record high jobless in the European area signaled a deepening recession in the 17-member economic system, dimming the need perspective for the energy. Signaled a deepening recession in the 17-member economy, dimming the demand outlook for the fuel.

The failures in the fuel were controlled after the Conference Board, a researching the market group said its index of customer confidence increased to 68.1 in March from a reading of 61.9 in Apr which raise the need perspective for the fuel.

Free stock market tips stock tips, share tips, forex tips, commodity tips, free Commodity tips ,intraday tips and more detail call customer care 88-15278-555.