Crude oil rises on political tension in Saudi Arabia
10/11/2017 07:45
Crude oil rises on political tension in Saudi Arabia
10/11/2017 07:45
Crude oil futures closed higher in the domestic market on Thursday as a report that Saudi Arabia has urged its nationals to leave Lebanon immediately implied worsening tensions in the Middle East, increasing the risk to global crude supplies. Crude added to its recent rise amid news of a wave of arrests of Saudi Arabian princes, businessmen and government ministers in what has been billed as an anticorruption crackdown but is seen by some as a consolidation of power by Crown Prince Mohammad bin Salman. Saudi Arabia is among the world’s top producers of oil and OPEC’s most influential member. At the MCX, crude oil futures for November 2017 contract closed at Rs 3735 per barrel, up by 1.08 per cent, after opening at Rs 3691, against a previous close of Rs 3695. It touched the intra-day high of Rs 3746.
10/11/2017 07:45
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Crude oil rises on political tension in Saudi Arabia
10/11/2017 07:45
Crude oil futures closed higher in the domestic market on Thursday as a report that Saudi Arabia has urged its nationals to leave Lebanon immediately implied worsening tensions in the Middle East, increasing the risk to global crude supplies. Crude added to its recent rise amid news of a wave of arrests of Saudi Arabian princes, businessmen and government ministers in what has been billed as an anticorruption crackdown but is seen by some as a consolidation of power by Crown Prince Mohammad bin Salman. Saudi Arabia is among the world’s top producers of oil and OPEC’s most influential member. At the MCX, crude oil futures for November 2017 contract closed at Rs 3735 per barrel, up by 1.08 per cent, after opening at Rs 3691, against a previous close of Rs 3695. It touched the intra-day high of Rs 3746.
