Crude oil dips on rising US crude output
13/03/2018
Crude oil dips on rising US crude output
13/03/2018 07:36
Crude oil futures closed lower in the domestic market on Monday as the latest data fed expectations that U.S. output will continue to rise this year, erasing some of the price gains scored late last week on a lower weekly U.S. oil-rig count. The report followed data from the EIA last week, which showed an increase of 86,000 barrels a day in total U.S. crude output for the week ending March 2. At the MCX, crude oil futures for March 2018 contract closed at Rs 3974 per barrel, down by 1.07 per cent, after opening at Rs 4036, against a previous close of Rs 4017. It touched the intra-day low of Rs 3945.
13/03/2018
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Crude oil dips on rising US crude output
13/03/2018 07:36
Crude oil futures closed lower in the domestic market on Monday as the latest data fed expectations that U.S. output will continue to rise this year, erasing some of the price gains scored late last week on a lower weekly U.S. oil-rig count. The report followed data from the EIA last week, which showed an increase of 86,000 barrels a day in total U.S. crude output for the week ending March 2. At the MCX, crude oil futures for March 2018 contract closed at Rs 3974 per barrel, down by 1.07 per cent, after opening at Rs 4036, against a previous close of Rs 4017. It touched the intra-day low of Rs 3945.
