Crude oil dips as Libya pipeline repair likely
28/12/2017
28/12/2017 07:40
Crude oil futures closed lower in the domestic market on Wednesday after a pipeline explosion in Libya helped to deliver a jolt to crude futures. The pipeline blast in Libya was a reminder of the headline risk now facing the oil market with the Organization of the Petroleum Exporting Countries-led production caps remaining in place for 2018 as oil inventories have started falling globally. However, expectations that the Libyan pipeline damage could be mended as soon as next week also partially contributed to the lower moves in crude. At the MCX, crude oil futures for January 2017 contract closed at Rs 3818 per barrel, down by 0.39 per cent, after opening at Rs 3823, against a previous close of Rs 3833. It touched the intra-day low of Rs 3807.
28/12/2017
Commodity Segment
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
Crude oil dips as Libya pipeline repair likely28/12/2017 07:40
Crude oil futures closed lower in the domestic market on Wednesday after a pipeline explosion in Libya helped to deliver a jolt to crude futures. The pipeline blast in Libya was a reminder of the headline risk now facing the oil market with the Organization of the Petroleum Exporting Countries-led production caps remaining in place for 2018 as oil inventories have started falling globally. However, expectations that the Libyan pipeline damage could be mended as soon as next week also partially contributed to the lower moves in crude. At the MCX, crude oil futures for January 2017 contract closed at Rs 3818 per barrel, down by 0.39 per cent, after opening at Rs 3823, against a previous close of Rs 3833. It touched the intra-day low of Rs 3807.
