Crude oil dips as Mexico storm weakens : 06/09/2018
Crude oil dips as Mexico storm weakens
06/09/2018 07:24
Crude oil futures closed lower in the domestic market on Wednesday as a major storm that passed through the Gulf of Mexico missed the bulk of the oil and natural-gas operations in the region. Prices have been bolstered in recent weeks and are likely to remain supported amid signs that Iranian crude exports are declining at a faster rate than expected, in the run up to November when U.S. sanctions on the country’s oil industry take effect. At the MCX, crude oil futures for September 2018 contract closed at Rs 4939 per barrel, down by 1.46 per cent, after opening at Rs 4972, against a previous close of Rs 5012. It touched an intra-day low of Rs 4924.
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Crude oil dips as Mexico storm weakens
06/09/2018 07:24
Crude oil futures closed lower in the domestic market on Wednesday as a major storm that passed through the Gulf of Mexico missed the bulk of the oil and natural-gas operations in the region. Prices have been bolstered in recent weeks and are likely to remain supported amid signs that Iranian crude exports are declining at a faster rate than expected, in the run up to November when U.S. sanctions on the country’s oil industry take effect. At the MCX, crude oil futures for September 2018 contract closed at Rs 4939 per barrel, down by 1.46 per cent, after opening at Rs 4972, against a previous close of Rs 5012. It touched an intra-day low of Rs 4924.
