Crude oil flat on rising US oil data
05/02/2018
Crude oil flat on rising US oil data
05/02/2018 07:38
Crude oil futures closed flat in the domestic market on Friday as recent U.S. monthly data show domestic crude production in record territory. U.S. oil production, driven by shale extraction, surpassed 10 million barrels a day in November for the first time in nearly 50 years reigniting concerns the market is oversaturated with crude. Oil prices were additionally pressured by a selloff in the stock market. At the MCX, crude oil futures for February 2018 contract closed at Rs 4197 per barrel, up by 0.05 per cent, after opening at Rs 4200, against a previous close of Rs 4195. It touched the intra-day high of Rs 4248.
05/02/2018
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Crude oil flat on rising US oil data
05/02/2018 07:38
Crude oil futures closed flat in the domestic market on Friday as recent U.S. monthly data show domestic crude production in record territory. U.S. oil production, driven by shale extraction, surpassed 10 million barrels a day in November for the first time in nearly 50 years reigniting concerns the market is oversaturated with crude. Oil prices were additionally pressured by a selloff in the stock market. At the MCX, crude oil futures for February 2018 contract closed at Rs 4197 per barrel, up by 0.05 per cent, after opening at Rs 4200, against a previous close of Rs 4195. It touched the intra-day high of Rs 4248.
