Crude oil dips on weak China demand outlook
31/12/2014 12:24
Crude oil prices fell by 0.23 per cent on Wednesday at the domestic markets as weak Chinese manufacturing data and demand concerns outweighed supply disruptions in Libya.
China's factory sector shrank for the first time in seven months in December, with the final HSBC/Markit Purchasing Managers' Index (PMI) for this month coming in at 49.6.
At the MCX, crude oil futures for January 2015 contract were trading at Rs. 3,415 per barrel, down by 0.23 per cent, after opening at Rs. 3,411 against the previous closing price of Rs. 3,423. It touched the intra-day low of Rs. 3,407 till the trading. (At 12.11 PM today).
31/12/2014 12:24
Crude oil prices fell by 0.23 per cent on Wednesday at the domestic markets as weak Chinese manufacturing data and demand concerns outweighed supply disruptions in Libya.
China's factory sector shrank for the first time in seven months in December, with the final HSBC/Markit Purchasing Managers' Index (PMI) for this month coming in at 49.6.
At the MCX, crude oil futures for January 2015 contract were trading at Rs. 3,415 per barrel, down by 0.23 per cent, after opening at Rs. 3,411 against the previous closing price of Rs. 3,423. It touched the intra-day low of Rs. 3,407 till the trading. (At 12.11 PM today).
