Crude oil futures buoyed by upbeat US jobs data
08/08/2016 16:42
Crude oil futures were trading higher during the evening trade in the domestic market on Monday as investors and speculators widened their positions in the energy commodity as better-than-expected US jobs data signaled a pickup in the world’s biggest economy that may bolster fuel consumption.
Non-farm payrolls in the US climbed 255,000 in July, following a revised 292,000 gain in June, against an estimated 180,000 additions.
Traders cast aside a sixth straight rise in US rig count to 7 by 381 last week, which signaled higher production in the coming months. At the MCX, Crude oil futures for August 2016 contract is trading at Rs 2,844 per barrel, up by 2.08 per cent, after opening at Rs 2,795, against a previous close of Rs 2,786. It touched the intra-day high of Rs 2,847 (at 16:37 hours).
08/08/2016 16:42
Crude oil futures were trading higher during the evening trade in the domestic market on Monday as investors and speculators widened their positions in the energy commodity as better-than-expected US jobs data signaled a pickup in the world’s biggest economy that may bolster fuel consumption.
Non-farm payrolls in the US climbed 255,000 in July, following a revised 292,000 gain in June, against an estimated 180,000 additions.
Traders cast aside a sixth straight rise in US rig count to 7 by 381 last week, which signaled higher production in the coming months. At the MCX, Crude oil futures for August 2016 contract is trading at Rs 2,844 per barrel, up by 2.08 per cent, after opening at Rs 2,795, against a previous close of Rs 2,786. It touched the intra-day high of Rs 2,847 (at 16:37 hours).
