Crude oil rises on signs of robust demand
22/12/2017
22/12/2017 07:41
Crude oil futures closed higher in the domestic market on Thursday as market participants weighed signs of robust demand versus the spectre of rising U.S. production. As per reports, the strong underlying demand reflected in the report could make traders reluctant to hold short positions, or bet on a fall in futures prices, heading into the holiday weekend, particularly given lingering geopolitical worries over Middle East tensions between Saudi Arabia and Iran. At the MCX, crude oil futures for January 2017 contract closed at Rs 3732 per barrel, up by 0.43 per cent, after opening at Rs 3722, against a previous close of Rs 3716. It touched the intra-day high of Rs 3740.
22/12/2017
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Crude oil rises on signs of robust demand22/12/2017 07:41
Crude oil futures closed higher in the domestic market on Thursday as market participants weighed signs of robust demand versus the spectre of rising U.S. production. As per reports, the strong underlying demand reflected in the report could make traders reluctant to hold short positions, or bet on a fall in futures prices, heading into the holiday weekend, particularly given lingering geopolitical worries over Middle East tensions between Saudi Arabia and Iran. At the MCX, crude oil futures for January 2017 contract closed at Rs 3732 per barrel, up by 0.43 per cent, after opening at Rs 3722, against a previous close of Rs 3716. It touched the intra-day high of Rs 3740.
