Crude oil up on easing output curbs
28/08/2018
Crude oil up on easing output curbs
28/08/2018 07:19
Crude oil futures closed higher in the domestic market on Monday as a committee of OPEC and non-OPEC producers reportedly revealed further progress in easing output curbs, as expected. 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 4825 per barrel, up by 0.44 per cent, after opening at Rs 4818, against a previous close of Rs 4804. It touched an intra-day high of Rs 4838.
28/08/2018
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Crude oil up on easing output curbs
28/08/2018 07:19
Crude oil futures closed higher in the domestic market on Monday as a committee of OPEC and non-OPEC producers reportedly revealed further progress in easing output curbs, as expected. 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 4825 per barrel, up by 0.44 per cent, after opening at Rs 4818, against a previous close of Rs 4804. It touched an intra-day high of Rs 4838.
