Crude oil gains on improving demand
15/01/2015 12:23
Crude oil prices rose by 4.30 per cent on Thursday at the domestic markets after U.S. crude oil inventories rose more-than-expected last month signaling that the demand for the commodity in US, world’s largest consumer of crude oil is strong. Energy Information Administration said that U.S. Crude Oil Inventories rose to a seasonally adjusted annual rate of 5.389M, from -3.062M in the preceding month. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 2,986 per barrel, up by 4.30 per cent, after opening at Rs. 2,892 against the previous closing price of Rs. 2,863. It touched the intra-day high of Rs. 2,992 till the trading. (At 11.45 AM today).
15/01/2015 12:23
Crude oil prices rose by 4.30 per cent on Thursday at the domestic markets after U.S. crude oil inventories rose more-than-expected last month signaling that the demand for the commodity in US, world’s largest consumer of crude oil is strong. Energy Information Administration said that U.S. Crude Oil Inventories rose to a seasonally adjusted annual rate of 5.389M, from -3.062M in the preceding month. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 2,986 per barrel, up by 4.30 per cent, after opening at Rs. 2,892 against the previous closing price of Rs. 2,863. It touched the intra-day high of Rs. 2,992 till the trading. (At 11.45 AM today).
