Crude oil falls by 0.23% on strong demand
outlook
08/07/2014 11:36
Crude oil prices fell by 0.23 per cent on Tuesday at the domestic markets on easing supply concerns after reports that Libyan oil exports are expected to start again after the government and rebels put an end to a clash that had closed several facilities and ports. At the MCX, crude oil futures for July 2014 contract were trading at Rs. 6,201 per barrel, down by 0.23 per cent, after opening at Rs. 6,215 against the previous closing price of Rs. 6,215. It touched the intra-day low of Rs. 6,198 till the trading. (At 11.30 AM today). However, losses were limited after investor confidence in the euro zone for July improved unexpectedly, easing concerns over the outlook for the region’s economy which raised the demand outlook for the fuel. Sentix said its index of investor confidence rose to 10.1 this month from a reading of 8.5 in June.
08/07/2014 11:36
Crude oil prices fell by 0.23 per cent on Tuesday at the domestic markets on easing supply concerns after reports that Libyan oil exports are expected to start again after the government and rebels put an end to a clash that had closed several facilities and ports. At the MCX, crude oil futures for July 2014 contract were trading at Rs. 6,201 per barrel, down by 0.23 per cent, after opening at Rs. 6,215 against the previous closing price of Rs. 6,215. It touched the intra-day low of Rs. 6,198 till the trading. (At 11.30 AM today). However, losses were limited after investor confidence in the euro zone for July improved unexpectedly, easing concerns over the outlook for the region’s economy which raised the demand outlook for the fuel. Sentix said its index of investor confidence rose to 10.1 this month from a reading of 8.5 in June.
