Crude oil futures continue upward journey
23/06/2014 13:06
Crude oil futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as extremists in Iraq seized control of more territory in the country, raising concerns over shrinking supplies from the OPEC’s second biggest crude producer.
The Islamic State in Iraq and the Levant or the so-called ISIL took control of Iraq’s border crossings with Jordan and Syria while the US warned that the crisis in Iraq may spread to other countries.
At the MCX, Crude Oil futures, for the July 2014 contract, is trading at Rs 6,485 per barrel, up by 0.39 per cent, after opening at Rs 6,470, against a previous close of Rs 6,460. It touched an intra-day high of Rs 6,492. (At 10:24 AM).
23/06/2014 13:06
Crude oil futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as extremists in Iraq seized control of more territory in the country, raising concerns over shrinking supplies from the OPEC’s second biggest crude producer.
The Islamic State in Iraq and the Levant or the so-called ISIL took control of Iraq’s border crossings with Jordan and Syria while the US warned that the crisis in Iraq may spread to other countries.
At the MCX, Crude Oil futures, for the July 2014 contract, is trading at Rs 6,485 per barrel, up by 0.39 per cent, after opening at Rs 6,470, against a previous close of Rs 6,460. It touched an intra-day high of Rs 6,492. (At 10:24 AM).
