Crude oil dips ahead of ECB bond buying
program
22/01/2015 15:48
Crude oil prices fell by 0.51 per cent on Thursday at the domestic markets ahead of an expected announcement of a bond-buying program by the European Central Bank (ECB) that could push the dollar to new highs and put downward pressure on commodities.
The ECB's Executive Board has proposed a program that would enable it to buy 50 billion euros ($58 billion) in bonds a month starting in March, a euro zone source said.
At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,933 per barrel, down by 0.51 per cent, after opening at Rs. 2,947 against the previous closing price of Rs. 2,948. It touched the intra-day low of Rs. 2,930 till the trading. (At 3.45 PM today).
22/01/2015 15:48
Crude oil prices fell by 0.51 per cent on Thursday at the domestic markets ahead of an expected announcement of a bond-buying program by the European Central Bank (ECB) that could push the dollar to new highs and put downward pressure on commodities.
The ECB's Executive Board has proposed a program that would enable it to buy 50 billion euros ($58 billion) in bonds a month starting in March, a euro zone source said.
At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,933 per barrel, down by 0.51 per cent, after opening at Rs. 2,947 against the previous closing price of Rs. 2,948. It touched the intra-day low of Rs. 2,930 till the trading. (At 3.45 PM today).
