Crude oil rises on falling US crude supplies
28/07/2017
Crude oil futures closed higher in the domestic market on Thursday as support from four weeks of falling U.S. crude supplies contributed to a fourth-consecutive session of gains. Investors have started to come around to the idea that output-curtailment efforts by the Organization of the Petroleum Exporting Countries and other major producers may be starting to show results. At the MCX, crude oil futures for August 2017 contract closed at Rs 3161 per barrel, up by 0.93 per cent, after opening at Rs 3131, against a previous close of Rs 3132. It touched the intra-day high of Rs 3166.
28/07/2017
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Crude oil futures closed higher in the domestic market on Thursday as support from four weeks of falling U.S. crude supplies contributed to a fourth-consecutive session of gains. Investors have started to come around to the idea that output-curtailment efforts by the Organization of the Petroleum Exporting Countries and other major producers may be starting to show results. At the MCX, crude oil futures for August 2017 contract closed at Rs 3161 per barrel, up by 0.93 per cent, after opening at Rs 3131, against a previous close of Rs 3132. It touched the intra-day high of Rs 3166.
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