Crude oil rises on decline in crude inventories
28/09/2017
Crude oil futures closed higher in the domestic market on Wednesday after U.S. government data revealed an unexpected decline in crude inventories, but a rise in gasoline stockpiles for the first time in four weeks kept gains in check. The U.S. Energy Information Administration on Wednesday said domestic crude supplies fell by 1.8 million barrels for the week ended Sept. 22, after posting hefty increases in each of the last three weeks. The decline was contrary to the forecast for an increase of 1.3 million barrels by analysts. At the MCX, crude oil futures for October 2017 contract closed at Rs 3415 per barrel, up by 0.38 per cent, after opening at Rs 3414, against a previous close of Rs 3402. It touched the intra-day high of Rs 3451.
28/09/2017
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Crude oil futures closed higher in the domestic market on Wednesday after U.S. government data revealed an unexpected decline in crude inventories, but a rise in gasoline stockpiles for the first time in four weeks kept gains in check. The U.S. Energy Information Administration on Wednesday said domestic crude supplies fell by 1.8 million barrels for the week ended Sept. 22, after posting hefty increases in each of the last three weeks. The decline was contrary to the forecast for an increase of 1.3 million barrels by analysts. At the MCX, crude oil futures for October 2017 contract closed at Rs 3415 per barrel, up by 0.38 per cent, after opening at Rs 3414, against a previous close of Rs 3402. It touched the intra-day high of Rs 3451.
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