MTECHTIPS WTI Crude Oil negative, market awaits US data releases

MTECHTIPS:-WTI Crude Oil negative, market awaits US data releases

WTI crude oil futures on Globex platform of NYMEX continued negative trend on Tuesday on less than expected economic growth around the globe.A list of US data releases are scheduled for the day and the traders are awaiting for clues for their trading from the data released. WTI crude oil futures for July delivery was seen trading down by 0.52% at $93.66 per barrel as of 10.08 AM IST on Tuesday. Brent crude oil prices for July delivery was also down by 0.10% at $102.54 per barrel as of 10.08 AM IST on Tuesday. A meet of the Organisation of the Petroleum Exporting Countries (OPEC) is scheduled to be held in Vienna on Friday and crude oil production policy is expected to remain unchanged. Tensions in Middle East and Sudan might have capped fall in crude oil prices in the global market to some extent. Sudan government announced on Monday that, it sized back a town from rebels. Rebels took control of the town a month ago. A data on German import prices is scheduled to be released at 11.30 AM IST while France Consumer data is expected to be released at 12.15 PM IST today.