Crude oil dips on increase in US oil rigs
30/01/2018
Crude oil dips on increase in US oil rigs
30/01/2018 07:42
Crude oil futures closed lower in the domestic market on Monday as a weekly increase in the number of rigs drilling for oil in the U.S. fed expectations for a continued rise in domestic production. Oil prices had hit three-year highs this month on the back of strong demand, geopolitical risks, a weaker U.S. dollar and efforts by the Organization of the Petroleum Exporting Countries to curb supply. At the MCX, crude oil futures for February 2018 contract closed at Rs 4182 per barrel, down by 0.19 per cent, after opening at Rs 4210, against a previous close of Rs 4190. It touched the intra-day low of Rs 4142.
30/01/2018
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Crude oil dips on increase in US oil rigs
30/01/2018 07:42
Crude oil futures closed lower in the domestic market on Monday as a weekly increase in the number of rigs drilling for oil in the U.S. fed expectations for a continued rise in domestic production. Oil prices had hit three-year highs this month on the back of strong demand, geopolitical risks, a weaker U.S. dollar and efforts by the Organization of the Petroleum Exporting Countries to curb supply. At the MCX, crude oil futures for February 2018 contract closed at Rs 4182 per barrel, down by 0.19 per cent, after opening at Rs 4210, against a previous close of Rs 4190. It touched the intra-day low of Rs 4142.
