Market News and Updates for Crude oil futures increased in the domestic market on Tuesday as investors closed positions in the energy commodity after services enlargement in the US accelerated, signaling a rise up in the world’s largest economy. The gauge measuring US services increased to 57 in February from 54.2 in the precursory month, with a reading above 50 signaling enlargement expansion.

Home price gains profit in the US accelerated in December 2014, upward by 4.5 % from the year ago month, compared to an annual 4.3 % advance in November 2014, signaling a rise up in the US housing market regaining, supporting the desired outlook for the fuel. The gauge measuring US consumer confidence slide to 96.4 in February from 103.8 in the last month. US crude oil stockpiles increased last week, signaling weakening desired for the fuel in the world’s largest oil consumer, cutting gains in the energy commodity. US crude oil stockpiles increased 8.9 million barrels in the week ended 20 February 2015.

Oil may fall down today ahead of EIA data which may show that US crude inventories enlargement from a record maximum, widening a supply glut. Crude oil futures, for the March 2015 contract, ended at Rs 3,122/barrel, upward by 0.84 %, after opening at Rs 3,103, against the last close price of Rs 3,096. It touched an intraday low-lying of Rs 3,058 till the ending.

Gold futures ended lower in the domestic market on Tuesday as investors and speculators closed positions in the precious metal after Fed Chair Janet Yellen signaled flexibility over monetary tightening in the world’s largest economy, dimming the desired for the bullion as a store of value. Gold may regained today amid a rise up in physical demand as markets in China reopen after the Lunar New Year holiday. At the MCX, Gold futures for April 2015 contract ended at Rs 26,059 / 10 gram, downward by 0 36 % after opening at Rs 26,228, against the last closing price of Rs 26,153. It touched the intra-day low-lying of Rs 25,976 till the ending.