Crude oil dips on downbeat US demand outlook
27/01/2015 12:04
Crude oil prices fell by 1.55 per cent on Tuesday at the domestic markets after the Federal Reserve Bank of Dallas manufacturing business index fell unexpectedly last month signaling weak manufacturing activity in the region which reduced the demand prospects for the fuel. Dallas Fed said that Dallas Fed Mfg Business Index fell to a seasonally adjusted annual rate of -4.4, from 3.5 in the preceding month whose figure was revised down from 4.1. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,793 per barrel, down by 1.55 per cent, after opening at Rs. 2,820 against the previous closing price of Rs. 2,837. It touched the intra-day low of Rs. 2,793 till the trading. (At 11.45 AM today).
27/01/2015 12:04
Crude oil prices fell by 1.55 per cent on Tuesday at the domestic markets after the Federal Reserve Bank of Dallas manufacturing business index fell unexpectedly last month signaling weak manufacturing activity in the region which reduced the demand prospects for the fuel. Dallas Fed said that Dallas Fed Mfg Business Index fell to a seasonally adjusted annual rate of -4.4, from 3.5 in the preceding month whose figure was revised down from 4.1. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,793 per barrel, down by 1.55 per cent, after opening at Rs. 2,820 against the previous closing price of Rs. 2,837. It touched the intra-day low of Rs. 2,793 till the trading. (At 11.45 AM today).
