Crude oil drops on rising inventories
29/01/2015 12:25
Crude oil prices fell by 0.61 per cent on Thursday at the domestic markets after U.S. crude oil inventories rose more-than-expected last month indicating that the demand for the commodity in US, world’s largest consumer of crude oil is weak. In a report, Energy Information Administration said that U.S. Crude Oil Inventories rose to a seasonally adjusted annual rate of 8.874M, from 10.071M in the preceding month. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,755 per barrel, down by 0.61 per cent, after opening at Rs. 2,759 against the previous closing price of Rs. 2,772. It touched the intra-day low of Rs. 2,749 till the trading. (At 11.53 AM today).
29/01/2015 12:25
Crude oil prices fell by 0.61 per cent on Thursday at the domestic markets after U.S. crude oil inventories rose more-than-expected last month indicating that the demand for the commodity in US, world’s largest consumer of crude oil is weak. In a report, Energy Information Administration said that U.S. Crude Oil Inventories rose to a seasonally adjusted annual rate of 8.874M, from 10.071M in the preceding month. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,755 per barrel, down by 0.61 per cent, after opening at Rs. 2,759 against the previous closing price of Rs. 2,772. It touched the intra-day low of Rs. 2,749 till the trading. (At 11.53 AM today).
