Crude oil rises on strong EIA data
01/02/2018
Crude oil rises on strong EIA data
01/02/2018 07:41
Crude oil futures closed higher in the domestic market on Wednesday buoyed by data from the Energy Information Administration showing strong U.S. demand for gasoline and distillates and declines in domestic supplies of the petroleum products, even as U.S. crude supplies climbed for the first time in 11 weeks. 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 4119 per barrel, up by 0.32 per cent, after opening at Rs 4090, against a previous close of Rs 4106. It touched the intra-day high of Rs 4122.
01/02/2018
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Crude oil rises on strong EIA data
01/02/2018 07:41
Crude oil futures closed higher in the domestic market on Wednesday buoyed by data from the Energy Information Administration showing strong U.S. demand for gasoline and distillates and declines in domestic supplies of the petroleum products, even as U.S. crude supplies climbed for the first time in 11 weeks. 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 4119 per barrel, up by 0.32 per cent, after opening at Rs 4090, against a previous close of Rs 4106. It touched the intra-day high of Rs 4122.
