Crude Oil ends higher on upbeat euro area data
16/02/2015 09:36
Crude oil futures ended higher in the domestic market on Friday after the Gross domestic product in the euro zone rose more-than-expected in the last quarter signaling improving sentiment in the region which raised the demand outlook for the fuel. In a report, Eurostat said that GDP rose to a seasonally adjusted 0.3 per cent, from 0.2 per cent in the preceding quarter. Sentiment improved further after Germany’s gross domestic product rose more-than-expected in the last quarter signaling weak sentiment in the region which further raised the demand outlook for the fuel. In a report, Statistisches Bundesamt Deutschland said that German GDP rose to a seasonally adjusted 0.7 per cent, from 0.1 per cent in the preceding quarter. Oil may rise as investors now look ahead to upcoming US data which may determine the health of the world’s largest economy. At the MCX, Crude oil futures, for the February 2015 contract, closed at Rs 3,294 per barrel, up by 3.91 per cent, after opening at Rs 3,175, against the previous close price of Rs 3,170. It touched an intraday high of Rs 3,330 till the closing.
16/02/2015 09:36
Crude oil futures ended higher in the domestic market on Friday after the Gross domestic product in the euro zone rose more-than-expected in the last quarter signaling improving sentiment in the region which raised the demand outlook for the fuel. In a report, Eurostat said that GDP rose to a seasonally adjusted 0.3 per cent, from 0.2 per cent in the preceding quarter. Sentiment improved further after Germany’s gross domestic product rose more-than-expected in the last quarter signaling weak sentiment in the region which further raised the demand outlook for the fuel. In a report, Statistisches Bundesamt Deutschland said that German GDP rose to a seasonally adjusted 0.7 per cent, from 0.1 per cent in the preceding quarter. Oil may rise as investors now look ahead to upcoming US data which may determine the health of the world’s largest economy. At the MCX, Crude oil futures, for the February 2015 contract, closed at Rs 3,294 per barrel, up by 3.91 per cent, after opening at Rs 3,175, against the previous close price of Rs 3,170. It touched an intraday high of Rs 3,330 till the closing.
