Sushil Finance expects crude oil prices to trade on a negative note as increasing supplies and low demand is likely to keep crude oil prices under pressure. Oil prices fell for a third straight day on Wednesday, as early gains on talk of a possible OPEC output cut vanished after the Federal Reserve released minutes of last month's policy meeting revealing worries that U.S. inflation could remain below target for ''quite some time.''
The Fed minutes showed central bankers concerned about the economy's strength but reluctant to issue a statement reflecting too much pessimism.
''We expect Natural gas prices to trade sideways note on the back of storage data to be released today,'' it added. U.S. natural gas futures ended up 3 percent on Wednesday on forecasts that colder-than-normal weather will continue through at least early December, keeping heating demand high.
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