Crude oil dips on EIA report
09/08/2018
Crude oil dips on EIA report
09/08/2018 07:42
Crude oil futures closed lower in the domestic market on Wednesday as a weaker-than-expected drawdown in crude stockpiles added to the downbeat action in oil futures when the U.S. Energy Information Administration reported that domestic crude supplies declined by 1.351 million barrels for the week ended Aug. 3. Global markets were also monitoring the escalating trade tensions between the U.S. and China as state-owned Chinese companies looked to replace U.S. crude with alternatives ahead of expected tariffs. At the MCX, crude oil futures for August 2018 contract closed at Rs 4575 per barrel, down by 3.93 per cent, after opening at Rs 4767, against a previous close of Rs 4762. It touched an intra-day low of Rs 4556.
09/08/2018
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Crude oil dips on EIA report
09/08/2018 07:42
Crude oil futures closed lower in the domestic market on Wednesday as a weaker-than-expected drawdown in crude stockpiles added to the downbeat action in oil futures when the U.S. Energy Information Administration reported that domestic crude supplies declined by 1.351 million barrels for the week ended Aug. 3. Global markets were also monitoring the escalating trade tensions between the U.S. and China as state-owned Chinese companies looked to replace U.S. crude with alternatives ahead of expected tariffs. At the MCX, crude oil futures for August 2018 contract closed at Rs 4575 per barrel, down by 3.93 per cent, after opening at Rs 4767, against a previous close of Rs 4762. It touched an intra-day low of Rs 4556.
