Oil falls ahead of US jobs data
08/05/2015 11:33
Crude oil futures fell in the domestic market on Friday as investors and speculators stayed cautious ahead of the key US non-farm payrolls data which may offer fresh cues over the health of the world’s biggest economy, shaping the demand outlook for the fuel. American employers probably added 224,000 workers in the month of April, following March’s 126,000 increase that was the lowest since December 2013. Fears of oversupply are back to haunt investors amid tens of millions of West African, Azeri and North Sea barrels going unsold. At the MCX, Crude oil futures, for the May 2015 contract, is trading at Rs 3,767 per barrel, down by 0.61 per cent, after opening at Rs 3,766, against the previous close price of Rs 3,790. It touched an intraday low of Rs 3,755. (At 11:25 AM).
08/05/2015 11:33
Crude oil futures fell in the domestic market on Friday as investors and speculators stayed cautious ahead of the key US non-farm payrolls data which may offer fresh cues over the health of the world’s biggest economy, shaping the demand outlook for the fuel. American employers probably added 224,000 workers in the month of April, following March’s 126,000 increase that was the lowest since December 2013. Fears of oversupply are back to haunt investors amid tens of millions of West African, Azeri and North Sea barrels going unsold. At the MCX, Crude oil futures, for the May 2015 contract, is trading at Rs 3,767 per barrel, down by 0.61 per cent, after opening at Rs 3,766, against the previous close price of Rs 3,790. It touched an intraday low of Rs 3,755. (At 11:25 AM).
