Crude oil up on report Iran may support output freeze
24/08/2016 08:57
Crude oil futures closed higher in the domestic market on Tuesday after a report indicated that Iran has shown willingness to work with other major crude producers to support the market. Oil and natural-gas prices also got a boost as traders eyed a couple of weather systems in the Atlantic, which could make a run into the Gulf of Mexico as a potential storm and disrupt oil and natural-gas output in the region. At the MCX, Crude oil futures for September 2016 contract closed at Rs. 3244 per barrel, up by 1 per cent, after opening at Rs. 3201, against the previous closing price of Rs. 3212. It touched the intra-day high of Rs. 3255.
24/08/2016 08:57
