Crude oil gains on upbeat demand
22/01/2015 12:16
Crude oil prices rose by 0.34 per cent on Thursday at the domestic markets after builders in the US broke ground on more homes last month, signaling a pickup in the housing market of the world’s biggest economy, lifting the demand outlook for the fuel. US housing starts climbed by 4.4 per cent to an annual pace of 1.09 million in December 2014 over the previous month. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 2,958 per barrel, up by 0.34 per cent, after opening at Rs. 2,947 against the previous closing price of Rs. 2,948. It touched the intra-day high of Rs. 2,965 till the trading. (At 11.45 AM today).
However, a rise in US crude stockpiles signaled weaker demand for the fuel in the world’s biggest oil consumer, curbing gains in oil futures. US crude oil inventories climbed by 5.7 million barrels last week, the American Petroleum Institute (API) said
22/01/2015 12:16
Crude oil prices rose by 0.34 per cent on Thursday at the domestic markets after builders in the US broke ground on more homes last month, signaling a pickup in the housing market of the world’s biggest economy, lifting the demand outlook for the fuel. US housing starts climbed by 4.4 per cent to an annual pace of 1.09 million in December 2014 over the previous month. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 2,958 per barrel, up by 0.34 per cent, after opening at Rs. 2,947 against the previous closing price of Rs. 2,948. It touched the intra-day high of Rs. 2,965 till the trading. (At 11.45 AM today).
However, a rise in US crude stockpiles signaled weaker demand for the fuel in the world’s biggest oil consumer, curbing gains in oil futures. US crude oil inventories climbed by 5.7 million barrels last week, the American Petroleum Institute (API) said
