Crude oil dips on high crude inventory levels
11/09/2017
Crude oil futures closed lower in the domestic market on Friday as domestic refineries saw a slow recovery from flooding due to Hurricane Harvey, which made landfall on the Texas coast two weeks ago.Weaker demand has resulted in higher crude inventory levels in the U.S., with concerns about excess supply weighing on prices over the past two weeks. The Energy Information Administration on Thursday reported that U.S. crude inventories rose 4.6 million barrels for the week ended Sept. 1.
At the MCX, crude oil futures for September 2017 contract closed at Rs 3041 per barrel, down by 3.25 per cent, after opening at Rs 3149, against a previous close of Rs 3143. It touched the intra-day low of Rs 3034.
11/09/2017
CLICK HERE
Crude oil futures closed lower in the domestic market on Friday as domestic refineries saw a slow recovery from flooding due to Hurricane Harvey, which made landfall on the Texas coast two weeks ago.Weaker demand has resulted in higher crude inventory levels in the U.S., with concerns about excess supply weighing on prices over the past two weeks. The Energy Information Administration on Thursday reported that U.S. crude inventories rose 4.6 million barrels for the week ended Sept. 1.
At the MCX, crude oil futures for September 2017 contract closed at Rs 3041 per barrel, down by 3.25 per cent, after opening at Rs 3149, against a previous close of Rs 3143. It touched the intra-day low of Rs 3034.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
