Crude oil down on decline in global demand : 07/09/2018
Crude oil down on decline in global demand
07/09/2018 07:18
Crude oil futures closed lower in the domestic market on Thursday pressured by concerns over a potential decline in global demand on the back of the U.S. trade dispute with China and economic woes in emerging markets. Price pressures also included sizable weekly gains in U.S. stockpiles of gasoline and distillates, which include heating oil, outweighing support from a hefty decline in domestic crude inventories as well as ongoing expectations for tighter crude supplies tied to U.S. sanctions on Iranian oil that begin in early November. At the MCX, crude oil futures for September 2018 contract closed at Rs 4889 per barrel, down by 0.91 per cent, after opening at Rs 4948, against a previous close of Rs 4934. It touched an intra-day low of Rs 4824.
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Crude oil down on decline in global demand
07/09/2018 07:18
Crude oil futures closed lower in the domestic market on Thursday pressured by concerns over a potential decline in global demand on the back of the U.S. trade dispute with China and economic woes in emerging markets. Price pressures also included sizable weekly gains in U.S. stockpiles of gasoline and distillates, which include heating oil, outweighing support from a hefty decline in domestic crude inventories as well as ongoing expectations for tighter crude supplies tied to U.S. sanctions on Iranian oil that begin in early November. At the MCX, crude oil futures for September 2018 contract closed at Rs 4889 per barrel, down by 0.91 per cent, after opening at Rs 4948, against a previous close of Rs 4934. It touched an intra-day low of Rs 4824.
