Crude oil down on rising US crude production
31/01/2018
Crude oil down on rising US crude production
31/01/2018 07:37
Crude oil futures closed lower in the domestic market on Tuesday on renewed concerns about mounting U.S. crude production. Prices had been pushed down at the start of the week in response to an increase in the number of rigs drilling for oil in the U.S., which is generally a proxy for activity in the sector. 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 4108 per barrel, down by 1.65 per cent, after opening at Rs 4149, against a previous close of Rs 4177. It touched the intra-day low of Rs 4092.
31/01/2018
Commodity Segment
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
Crude oil down on rising US crude production
31/01/2018 07:37
Crude oil futures closed lower in the domestic market on Tuesday on renewed concerns about mounting U.S. crude production. Prices had been pushed down at the start of the week in response to an increase in the number of rigs drilling for oil in the U.S., which is generally a proxy for activity in the sector. 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 4108 per barrel, down by 1.65 per cent, after opening at Rs 4149, against a previous close of Rs 4177. It touched the intra-day low of Rs 4092.
