Crude oil futures up on US supplies data
20/08/2014 11:16
Crude oil futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity after US crude oil supplies fell last week, signaling improving demand for the fuel in the world’s biggest crude oil consumer.
US crude oil stockpiles fell 1.4 million barrels last week, the API said.
An EIA report today may show a dip of 1.75 million barrels in crude oil supplies last week.
At the MCX, Crude Oil futures, for the September 2014 contract, is trading at Rs 5,682 per barrel, up by 0.12 per cent, after opening at Rs 5,687, against a previous close of Rs 5,675. It touched an intra-day high of Rs 5,691. (At 10:58 AM).
20/08/2014 11:16
Crude oil futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity after US crude oil supplies fell last week, signaling improving demand for the fuel in the world’s biggest crude oil consumer.
US crude oil stockpiles fell 1.4 million barrels last week, the API said.
An EIA report today may show a dip of 1.75 million barrels in crude oil supplies last week.
At the MCX, Crude Oil futures, for the September 2014 contract, is trading at Rs 5,682 per barrel, up by 0.12 per cent, after opening at Rs 5,687, against a previous close of Rs 5,675. It touched an intra-day high of Rs 5,691. (At 10:58 AM).
