Crude oil rises as uncertainty in Venezuela continues
01/08/2017
Crude oil futures closed higher in the domestic market on Monday as traders finished out July on a positive note with prices getting a lift from renewed production-curb commitments from OPEC members as well as uncertainty in Venezuela.Oil had drifted lower amid choppy trading conditions in earlier activity as investors weighed the potential for the U.S. to impose sanctions against Venezuela — a member of the Organization of the Petroleum Exporting Countries and a major exporter of oil to the U.S. — after a referendum over the weekend.At the MCX, crude oil futures for August 2017 contract closed at Rs 3193 per barrel, up by 0.03 per cent, after opening at Rs 3200, against a previous close of Rs 3192. It touched the intra-day high of Rs 3214.
01/08/2017
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Crude oil futures closed higher in the domestic market on Monday as traders finished out July on a positive note with prices getting a lift from renewed production-curb commitments from OPEC members as well as uncertainty in Venezuela.Oil had drifted lower amid choppy trading conditions in earlier activity as investors weighed the potential for the U.S. to impose sanctions against Venezuela — a member of the Organization of the Petroleum Exporting Countries and a major exporter of oil to the U.S. — after a referendum over the weekend.At the MCX, crude oil futures for August 2017 contract closed at Rs 3193 per barrel, up by 0.03 per cent, after opening at Rs 3200, against a previous close of Rs 3192. It touched the intra-day high of Rs 3214.
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