Crude oil drops with focus on heavy supplies
24/04/2015 12:23
Crude oil prices fell by 0.76 per cent on Friday at the domestic markets as investors watch the supply/demand balance plays out that pits bulging inventories against efforts to curb production. Recent data showed that U.S. crude inventories rose far more than expected last week and as market participants continued to focus on developments in Yemen
Saudia Arabia resumed air strikes on Houthi-targets in the city of Aden on Wednesday despite increased calls from the White House for a diplomatic solution to the month-long conflict.
At the MCX, crude oil futures for April 2015 contract were trading at Rs. 3,660 per barrel, down by 0.76 per cent, after opening at Rs. 3,670 against the previous closing price of Rs. 3,688. It touched the intra-day high of Rs. 3,670 till the trading. (At 11.59 AM today).
24/04/2015 12:23
Crude oil prices fell by 0.76 per cent on Friday at the domestic markets as investors watch the supply/demand balance plays out that pits bulging inventories against efforts to curb production. Recent data showed that U.S. crude inventories rose far more than expected last week and as market participants continued to focus on developments in Yemen
Saudia Arabia resumed air strikes on Houthi-targets in the city of Aden on Wednesday despite increased calls from the White House for a diplomatic solution to the month-long conflict.
At the MCX, crude oil futures for April 2015 contract were trading at Rs. 3,660 per barrel, down by 0.76 per cent, after opening at Rs. 3,670 against the previous closing price of Rs. 3,688. It touched the intra-day high of Rs. 3,670 till the trading. (At 11.59 AM today).
