Crude oil rises as investors assess hurricane impact
12/09/2017
Crude oil futures closed higher in the domestic market on Monday as investors assessed the impact of Hurricane Irma on energy demand in Florida and Hurricane Harvey’s extent of damage to oil refineries on the Gulf Coast. Investors and analysts were also looking ahead to monthly reports from OPEC and the International Energy Agency due on Tuesday and Wednesday, respectively, for the latest OPEC production data and global demand forecasts. The U.S. Energy Information Administration will also release its monthly short-term energy outlook report Tuesday. At the MCX, crude oil futures for September 2017 contract closed at Rs 3074 per barrel, up by 0.95 per cent, after opening at Rs 3060, against a previous close of Rs 3045. It touched the intra-day high of Rs 3089.
12/09/2017
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Crude oil futures closed higher in the domestic market on Monday as investors assessed the impact of Hurricane Irma on energy demand in Florida and Hurricane Harvey’s extent of damage to oil refineries on the Gulf Coast. Investors and analysts were also looking ahead to monthly reports from OPEC and the International Energy Agency due on Tuesday and Wednesday, respectively, for the latest OPEC production data and global demand forecasts. The U.S. Energy Information Administration will also release its monthly short-term energy outlook report Tuesday. At the MCX, crude oil futures for September 2017 contract closed at Rs 3074 per barrel, up by 0.95 per cent, after opening at Rs 3060, against a previous close of Rs 3045. It touched the intra-day high of Rs 3089.
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