Crude oil rises on decline in US crude supplies
05/01/2018
05/01/2018 07:44
Crude oil futures closed higher in the domestic market on Thursday as a hefty weekly drop in U.S. crude supplies and ongoing protests in Iran lifted prices to levels not seen since December 2014. The U.S. Energy Information Administration reported Thursday that domestic crude supplies fell by 7.4 million barrels for the week ended Dec. 29. That was larger than the forecast for a decline of 5.7 million barrels. At the MCX, crude oil futures for January 2017 contract closed at Rs 3924 per barrel, up by 0.54 per cent, after opening at Rs 3910, against a previous close of Rs 3903. It touched the intra-day high of Rs 3950.
05/01/2018
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Crude oil rises on decline in US crude supplies05/01/2018 07:44
Crude oil futures closed higher in the domestic market on Thursday as a hefty weekly drop in U.S. crude supplies and ongoing protests in Iran lifted prices to levels not seen since December 2014. The U.S. Energy Information Administration reported Thursday that domestic crude supplies fell by 7.4 million barrels for the week ended Dec. 29. That was larger than the forecast for a decline of 5.7 million barrels. At the MCX, crude oil futures for January 2017 contract closed at Rs 3924 per barrel, up by 0.54 per cent, after opening at Rs 3910, against a previous close of Rs 3903. It touched the intra-day high of Rs 3950.
