Crude oil gains on positive US data
16/04/2015 12:07
Crude oil prices rose by 0.46 per cent on Thursday at the domestic markets as positive US economic data lifted the demand outlook for the fuel. The Federal Reserve’s Beige Book showed that the world’s biggest economy expanded from mid-February to the end of March led by gains in retail sales and rising demand for business services. US home builder sentiment rose in April while factory output eked out a gain for the first time in four months in March. The gauge measuring US home builder sentiment climbed to the highest level since January at 56 in April from 52 in March. US manufacturing output rose 0.1 per cent in March from the previous month. At the MCX, crude oil futures for June 2015 contract were trading at Rs. 3,512 per barrel, up by 0.46 per cent, after opening at Rs. 3,512 against the previous closing price of Rs. 3,496. It touched the intra-day high of Rs. 3,532 till the trading. (At 11.49 AM today).
16/04/2015 12:07
Crude oil prices rose by 0.46 per cent on Thursday at the domestic markets as positive US economic data lifted the demand outlook for the fuel. The Federal Reserve’s Beige Book showed that the world’s biggest economy expanded from mid-February to the end of March led by gains in retail sales and rising demand for business services. US home builder sentiment rose in April while factory output eked out a gain for the first time in four months in March. The gauge measuring US home builder sentiment climbed to the highest level since January at 56 in April from 52 in March. US manufacturing output rose 0.1 per cent in March from the previous month. At the MCX, crude oil futures for June 2015 contract were trading at Rs. 3,512 per barrel, up by 0.46 per cent, after opening at Rs. 3,512 against the previous closing price of Rs. 3,496. It touched the intra-day high of Rs. 3,532 till the trading. (At 11.49 AM today).
