Crude oil up on strong crude demand
31/03/2017 08:16
Crude oil futures closed higher in the domestic market on Thursday as larger-than-expected drawdowns in U.S. petroleum-product stockpiles and gains in refinery activity raised expectations of stronger demand for crude.
Growing expectations that the Organization of the Petroleum Exporting Countries would agree to extend its production-cut agreement also contributed to oil’s price climb.
At the MCX, crude oil futures for April 2016 contract closed at Rs 3273 per barrel, up by 1.93 per cent, after opening at Rs 3222, against a previous close of Rs 3211. It touched the intra-day high of Rs 3275.
31/03/2017 08:16
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Crude oil futures closed higher in the domestic market on Thursday as larger-than-expected drawdowns in U.S. petroleum-product stockpiles and gains in refinery activity raised expectations of stronger demand for crude.
Growing expectations that the Organization of the Petroleum Exporting Countries would agree to extend its production-cut agreement also contributed to oil’s price climb.
At the MCX, crude oil futures for April 2016 contract closed at Rs 3273 per barrel, up by 1.93 per cent, after opening at Rs 3222, against a previous close of Rs 3211. It touched the intra-day high of Rs 3275.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
