Crude oil rises on geopolitical uncertainty
15/05/2018
Crude oil rises on geopolitical uncertainty
15/05/2018 07:43
Crude oil futures closed higher in the domestic market on Monday as violence in the Middle East fed concerns over the flow of oil in the region. The bottom line for oil is that global supply will fall by some unknown amount as a result of the U.S. leaving the Iran deal, and that is bullish given the backdrop of high OPEC compliance, strong global demand expectations, geopolitical uncertainty and stabilizing U.S. production growth. At the MCX, crude oil futures for June 2018 contract closed at Rs 4804 per barrel, up by 0.02 per cent, after opening at Rs 4780, against a previous close of Rs 4803. It touched the intra-day high of Rs 4836.
15/05/2018
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Crude oil rises on geopolitical uncertainty
15/05/2018 07:43
Crude oil futures closed higher in the domestic market on Monday as violence in the Middle East fed concerns over the flow of oil in the region. The bottom line for oil is that global supply will fall by some unknown amount as a result of the U.S. leaving the Iran deal, and that is bullish given the backdrop of high OPEC compliance, strong global demand expectations, geopolitical uncertainty and stabilizing U.S. production growth. At the MCX, crude oil futures for June 2018 contract closed at Rs 4804 per barrel, up by 0.02 per cent, after opening at Rs 4780, against a previous close of Rs 4803. It touched the intra-day high of Rs 4836.
