Crude oil gains as cease fire in Ukraine
holds
16/02/2015 11:45
Crude oil prices rose by 0.55 per cent on Monday at the domestic markets as investors eyed a shaky cease fire in Ukraine. Oil received additional support from a broadly weaker U.S. dollar and as improving economic data from Europe boosted hopes for an increase in demand for crude.
Last week, crude oil futures rallied sharply on Friday, with prices continuing to recover from recent lows amid speculation productions cuts by drillers in the U.S and global oil companies will alleviate a glut in supplies.
At the MCX, crude oil futures for February 2015 contract were trading at Rs. 3,276 per barrel, down by 0.55 per cent, after opening at Rs. 3,275 against the previous closing price of Rs. 3,294. It touched the intra-day low of Rs. 3,265 till the trading. (At 11.41 AM today).
16/02/2015 11:45
Crude oil prices rose by 0.55 per cent on Monday at the domestic markets as investors eyed a shaky cease fire in Ukraine. Oil received additional support from a broadly weaker U.S. dollar and as improving economic data from Europe boosted hopes for an increase in demand for crude.
Last week, crude oil futures rallied sharply on Friday, with prices continuing to recover from recent lows amid speculation productions cuts by drillers in the U.S and global oil companies will alleviate a glut in supplies.
At the MCX, crude oil futures for February 2015 contract were trading at Rs. 3,276 per barrel, down by 0.55 per cent, after opening at Rs. 3,275 against the previous closing price of Rs. 3,294. It touched the intra-day low of Rs. 3,265 till the trading. (At 11.41 AM today).
