Crude oil up on chances of output freeze
19/08/2016 08:55
Crude oil futures closed higher in the domestic market on Thursday as the world's biggest producers prepared to discuss a possible freeze in production levels. The rally has also been driven by short covering, as speculators including hedge funds and other money managers have amassed record short positions. At the MCX, Crude oil futures for August 2016 contract closed at Rs. 3224 per barrel, up by 3.53 per cent, after opening at Rs. 3125, against the previous closing price of Rs. 3114. It touched the intra-day high of Rs. 3228.
19/08/2016 08:55
