Crude oil up as hurricane disruption ends
06/09/2017
Crude oil futures closed higher in the domestic market on Tuesday as Gulf Coast refineries powered back up after the disruptions caused by Hurricane Harvey last week.Demand for crude is set to rise as refinery capacity recovers, while the shortage that has buoyed gasoline prices is likely to ease.
Inventory data for last week will be published by the American Petroleum Institute on Wednesday, delayed a day due to the holiday. Official supply figures from the U.S. Energy Information Administration are slated for Thursday.At the MCX, crude oil futures for September 2017 contract closed at Rs 3122 per barrel, up by 2.39 per cent, after opening at Rs 3045, against a previous close of Rs 3049. It touched the intra-day high of Rs 3142.
06/09/2017
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Crude oil futures closed higher in the domestic market on Tuesday as Gulf Coast refineries powered back up after the disruptions caused by Hurricane Harvey last week.Demand for crude is set to rise as refinery capacity recovers, while the shortage that has buoyed gasoline prices is likely to ease.
Inventory data for last week will be published by the American Petroleum Institute on Wednesday, delayed a day due to the holiday. Official supply figures from the U.S. Energy Information Administration are slated for Thursday.At the MCX, crude oil futures for September 2017 contract closed at Rs 3122 per barrel, up by 2.39 per cent, after opening at Rs 3045, against a previous close of Rs 3049. It touched the intra-day high of Rs 3142.
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