Crude oil rises on drop in US crude inventory
10/01/2018
Crude oil rises on drop in US crude inventory
10/01/2018 07:40
Crude oil futures closed higher in the domestic market on Tuesday as expectations for an eighth-straight weekly drop in U.S. crude inventories helped send prices to another finish at a three-year high. A seven-week string of drops in U.S. crude supplies and concerns over unrest in Iran were drivers for the rally. A weekly decline in the number of U.S. drilling rigs led both contracts to also finish higher. At the MCX, crude oil futures for January 2017 contract closed at Rs 4007 per barrel, up by 2.59 per cent, after opening at Rs 3927, against a previous close of Rs 3906. It touched the intra-day high of Rs 4010.
10/01/2018
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Crude oil rises on drop in US crude inventory
10/01/2018 07:40
Crude oil futures closed higher in the domestic market on Tuesday as expectations for an eighth-straight weekly drop in U.S. crude inventories helped send prices to another finish at a three-year high. A seven-week string of drops in U.S. crude supplies and concerns over unrest in Iran were drivers for the rally. A weekly decline in the number of U.S. drilling rigs led both contracts to also finish higher. At the MCX, crude oil futures for January 2017 contract closed at Rs 4007 per barrel, up by 2.59 per cent, after opening at Rs 3927, against a previous close of Rs 3906. It touched the intra-day high of Rs 4010.
