Crude oil dips on rising US crude supply
24/03/2017 08:44
Crude oil futures closed lower in the domestic market on Thursday as traders focused on the persistent oversupply of crude in the global market that has weighed on prices in recent years.
The record in U.S. stockpiles of crude oil reported Wednesday fed concerns over a global glut of supplies, despite expectations that U.S. demand for gasoline is set to grow in the run up to the summer driving season.
At the MCX, crude oil futures for April 2016 contract closed at Rs 3144 per barrel, down by 0.63 per cent, after opening at Rs 3177, against a previous close of Rs 3164. It touched the intra-day low of Rs 3130.
24/03/2017 08:44
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Crude oil futures closed lower in the domestic market on Thursday as traders focused on the persistent oversupply of crude in the global market that has weighed on prices in recent years.
The record in U.S. stockpiles of crude oil reported Wednesday fed concerns over a global glut of supplies, despite expectations that U.S. demand for gasoline is set to grow in the run up to the summer driving season.
At the MCX, crude oil futures for April 2016 contract closed at Rs 3144 per barrel, down by 0.63 per cent, after opening at Rs 3177, against a previous close of Rs 3164. It touched the intra-day low of Rs 3130.
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Free Commodity Tips : Join our Whatsapp No : 9094047040
