Sushil Finance expects crude oil prices to trade on negative note as ample supply, Saudi's willingness to accept crude prices at current levels and higher than expected buildup in inventory are likely to put pressure on crude prices.
Oil prices rose in volatile trade on Thursday, as data showing tight U.S. gasoline supplies and technical trading ahead of options expiry provided rare support amid a long downturn.
U.S. government data showed gasoline stockpiles fell to their lowest level in two years, pushing gasoline futures 3 percent higher early and boosting crude futures which have fallen more than 25 percent since June.
''We expect Natural gas prices to trade on negative note on the back of bigger-than-expected storage build,'' it added. U.S. natural gas futures edged lower on Thursday after the government reported a bigger-than-expected storage build and on forecasts for moderate weather over the next two weeks.
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