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MTECHTIPS;-CRUDE OIL
U.S. crude was steady near $93.50 a barrel on Friday, after weak data from the top oil consumer
helped ease fears the Federal Reserve could soon scale back its stimulus measures, a key driver of investment in global commodities. The U.S. economy expanded less than previously estimated in the first three months of the year and initial jobless claims unexpectedly rose last week, stirring up hopes the Fed may continue its easing policy, which would keep interest rates low and money
cheap Outlook : Crude oil is expected to trade with negative bias on account of growth concerns
and economic slowdown and later take cues from Europe and US economic data.
U.S. crude was steady near $93.50 a barrel on Friday, after weak data from the top oil consumer
helped ease fears the Federal Reserve could soon scale back its stimulus measures, a key driver of investment in global commodities. The U.S. economy expanded less than previously estimated in the first three months of the year and initial jobless claims unexpectedly rose last week, stirring up hopes the Fed may continue its easing policy, which would keep interest rates low and money
cheap Outlook : Crude oil is expected to trade with negative bias on account of growth concerns
and economic slowdown and later take cues from Europe and US economic data.
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