Crude oil gains on falling inventories
01/01/2015 11:43
Crude oil prices rose by 0.74 per cent on Thursday at the domestic markets after Energy Information Administration said that U.S. Crude Oil Inventories fell to a seasonally adjusted annual rate of -1.754M, from 7.267M in the preceding month signaling that the demand for the commodity in US, world’s largest consumer of crude oil is strong. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 3,394 per barrel, up by 0.74 per cent, after opening at Rs. 3,398 against the previous closing price of Rs. 3,369. It touched the intra-day low of Rs. 3,410 till the trading. (At 11.41 AM today).
01/01/2015 11:43
Crude oil prices rose by 0.74 per cent on Thursday at the domestic markets after Energy Information Administration said that U.S. Crude Oil Inventories fell to a seasonally adjusted annual rate of -1.754M, from 7.267M in the preceding month signaling that the demand for the commodity in US, world’s largest consumer of crude oil is strong. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 3,394 per barrel, up by 0.74 per cent, after opening at Rs. 3,398 against the previous closing price of Rs. 3,369. It touched the intra-day low of Rs. 3,410 till the trading. (At 11.41 AM today).
