Crude oil rises as refineries restart production
05/09/2017
Crude oil futures closed higher in the domestic market on Monday as some refineries started coming back on line following Hurricane Harvey, now a tropical depression that caused the shutdown of a sizable portion of U.S. refinery capacity last week.Energy prices are also feeling pressure from traders who lowered their bets that crude prices could rise. Investors were also eyeing the potential for future disruption from a fresh storm brewing in the Atlantic Ocean.At the MCX, crude oil futures for September 2017 contract closed at Rs 3050 per barrel, up by 0.96 per cent, after opening at Rs 3010, against a previous close of Rs 3021. It touched the intra-day high of Rs 3058.
05/09/2017
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Crude oil futures closed higher in the domestic market on Monday as some refineries started coming back on line following Hurricane Harvey, now a tropical depression that caused the shutdown of a sizable portion of U.S. refinery capacity last week.Energy prices are also feeling pressure from traders who lowered their bets that crude prices could rise. Investors were also eyeing the potential for future disruption from a fresh storm brewing in the Atlantic Ocean.At the MCX, crude oil futures for September 2017 contract closed at Rs 3050 per barrel, up by 0.96 per cent, after opening at Rs 3010, against a previous close of Rs 3021. It touched the intra-day high of Rs 3058.
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