Crude oil dips on increase in domestic crude inventories
08/09/2017
Crude oil futures closed lower in the domestic market on Thursday after the U.S. government reported the first climb for domestic crude inventories in 10 weeks, of U.S. stocks data, as Gulf storm Harvey caused refinery shutdowns in Texas, reducing demand for the commodity.Early Thursday, the U.S. Energy Information Administration said domestic crude supplies climbed by 4.6 million barrels for the week ended Sept. 1. The rise followed nine-consecutive weeks of declines.At the MCX, crude oil futures for September 2017 contract closed at Rs 3143 per barrel, down by 0.38 per cent, after opening at Rs 3157, against a previous close of Rs 3155. It touched the intra-day low of Rs 3116.
08/09/2017
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Crude oil futures closed lower in the domestic market on Thursday after the U.S. government reported the first climb for domestic crude inventories in 10 weeks, of U.S. stocks data, as Gulf storm Harvey caused refinery shutdowns in Texas, reducing demand for the commodity.Early Thursday, the U.S. Energy Information Administration said domestic crude supplies climbed by 4.6 million barrels for the week ended Sept. 1. The rise followed nine-consecutive weeks of declines.At the MCX, crude oil futures for September 2017 contract closed at Rs 3143 per barrel, down by 0.38 per cent, after opening at Rs 3157, against a previous close of Rs 3155. It touched the intra-day low of Rs 3116.
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