Crude oil gains on upbeat US data
02/02/2015 11:46
Crude oil prices rose by 2.24 per cent on Monday at the domestic markets after a gauge measuring US consumer sentiment hit the highest level in eleven years at 98.1 in January 2015 from 93.6 in December 2014 while consumer spending rose at the fastest clip since Q1 2006, expanding at an annualized 4.3 per cent in Q4 2014, brightening the demand outlook for the fuel.
A gauge measuring US business activity rose to 59.4 in January from 58.8 in December, with a reading above 50 signaling expansion. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,919 per barrel, down by 2.24 per cent, after opening at Rs. 2,870 against the previous closing price of Rs. 2,855.
It touched the intra-day high of Rs. 2,929 till the trading. (At 11.29 AM today).
02/02/2015 11:46
Crude oil prices rose by 2.24 per cent on Monday at the domestic markets after a gauge measuring US consumer sentiment hit the highest level in eleven years at 98.1 in January 2015 from 93.6 in December 2014 while consumer spending rose at the fastest clip since Q1 2006, expanding at an annualized 4.3 per cent in Q4 2014, brightening the demand outlook for the fuel.
A gauge measuring US business activity rose to 59.4 in January from 58.8 in December, with a reading above 50 signaling expansion. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,919 per barrel, down by 2.24 per cent, after opening at Rs. 2,870 against the previous closing price of Rs. 2,855.
It touched the intra-day high of Rs. 2,929 till the trading. (At 11.29 AM today).
