Sushil Finance expects crude oil prices to trade positive as stronger US economy and seasonal refinery maintenance season is likely to support prices. U.S. crude oil rose on Monday backed by strong U.S. economic data, while Brent edged up after nearing a two-year low last week.
The U.S. crude contract saw a slight bump in the afternoon after data showed seasonal refinery maintenance on the U.S. Gulf Coast will peak next month at some 500,000 barrels per day, while crude unit outages will ease quickly in November, according to IIR data.
''We expect Natural gas prices to trade on a positive note on the back of cooler weather and rising heating demand next week,'' it added. U.S. natural gas futures jumped over 3 percent on Monday on forecasts for cooler weather and rising heating demand next week that some in the market say could reduce storage injections needed for the winter.
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