Crude oil rises on strong demand expectation
15/09/2017
Crude oil futures closed higher in the domestic market on Thursday with the U.S. benchmark settling at a more-than-six-week high on expectations for stronger demand and efforts by major producers to maintain a cap on crude output.The report also showed a jump in crude output as production in the Gulf of Mexico recovered in the wake of disruptions from Hurricane Harvey and refinery capacity activity fell for a second-straight week, which hints at a further back up for crude supplies.At the MCX, crude oil futures for September 2017 contract closed at Rs 3215 per barrel, up by 1.68 per cent, after opening at Rs 3160, against a previous close of Rs 3162. It touched the intra-day high of Rs 3243.
15/09/2017
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Crude oil futures closed higher in the domestic market on Thursday with the U.S. benchmark settling at a more-than-six-week high on expectations for stronger demand and efforts by major producers to maintain a cap on crude output.The report also showed a jump in crude output as production in the Gulf of Mexico recovered in the wake of disruptions from Hurricane Harvey and refinery capacity activity fell for a second-straight week, which hints at a further back up for crude supplies.At the MCX, crude oil futures for September 2017 contract closed at Rs 3215 per barrel, up by 1.68 per cent, after opening at Rs 3160, against a previous close of Rs 3162. It touched the intra-day high of Rs 3243.
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