Wednesday, December 16, 2015

Mcx crude oil updates for 16 Dec, 2015

Traders betting that US(United States) crude prices will bounce above those in the rest of the world if Congress lifts America's oil-export ban may be discouraged.

Negotiators are inching near to a deal that would allow unfettered access to the country's crude for the 1st time in 40 years.

The glut in the US(United States) that depressed prices at the time of height of the shale frenzy spread to the rest of the world current year.

That caused world prices to sink, narrowing the discount for US crude & lowering the chances for producers to sell their oil at a better price in the export market.

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