Crude oil dips on concerns of rising production
28/02/2018
Crude oil dips on concerns of rising production
28/02/2018 07:24
Crude oil futures closed lower in the domestic market on Tuesday pressured by expectations for a weekly build in U.S. crude stockpiles and concerns over growth in domestic production. Strength in the U.S. dollar, in the wake of Federal Reserve Chairman Jerome Powell’s first day of congressional testimony, also put pressure on dollar-denominated prices of oil. At the MCX, crude oil futures for March 2018 contract closed at Rs 4125 per barrel, down by 0.72 per cent, after opening at Rs 4149, against a previous close of Rs 4155. It touched the intra-day low of Rs 4093.
28/02/2018
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Crude oil dips on concerns of rising production
28/02/2018 07:24
Crude oil futures closed lower in the domestic market on Tuesday pressured by expectations for a weekly build in U.S. crude stockpiles and concerns over growth in domestic production. Strength in the U.S. dollar, in the wake of Federal Reserve Chairman Jerome Powell’s first day of congressional testimony, also put pressure on dollar-denominated prices of oil. At the MCX, crude oil futures for March 2018 contract closed at Rs 4125 per barrel, down by 0.72 per cent, after opening at Rs 4149, against a previous close of Rs 4155. It touched the intra-day low of Rs 4093.
