Crude oil rises as investors focus on tightening inventories
27/08/2018
Crude oil rises as investors focus on tightening inventories
27/08/2018 07:21
Crude oil futures closed higher in the domestic market on Friday as investors focused on tightening inventories, including signs of shrinking output from Iran. Overall momentum for crude prices has been tilted to the upside against a weakening dollar that has also contributed to the mostly bullish weekly trend for crude futures. Prices for crude have been supported by data lately signaling receding supplies, notably in the U.S., which has become among the more significant producers. At the MCX, crude oil futures for September 2018 contract closed at Rs 4809 per barrel, up by 0.73 per cent, after opening at Rs 4790, against a previous close of Rs 4774. It touched an intra-day high of Rs 4857.
27/08/2018
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Crude oil rises as investors focus on tightening inventories
27/08/2018 07:21
Crude oil futures closed higher in the domestic market on Friday as investors focused on tightening inventories, including signs of shrinking output from Iran. Overall momentum for crude prices has been tilted to the upside against a weakening dollar that has also contributed to the mostly bullish weekly trend for crude futures. Prices for crude have been supported by data lately signaling receding supplies, notably in the U.S., which has become among the more significant producers. At the MCX, crude oil futures for September 2018 contract closed at Rs 4809 per barrel, up by 0.73 per cent, after opening at Rs 4790, against a previous close of Rs 4774. It touched an intra-day high of Rs 4857.
