Crude oil down on drop in US crude supply
05/10/2017
Crude oil futures closed lower in the domestic market on Wednesday in the wake of a much-larger-than-expected weekly drop in U.S. crude supplies. Traders also fretted over flagging compliance in an oil-producer with a key production-cut agreement, amid growing speculation that parties to the OPEC-led pact will extend it past March 2018. At the MCX, crude oil futures for October 2017 contract closed at Rs 3264 per barrel, down by 1.42 per cent, after opening at Rs 3287, against a previous close of Rs 3311. It touched the intra-day low of Rs 3248.
05/10/2017
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Crude oil futures closed lower in the domestic market on Wednesday in the wake of a much-larger-than-expected weekly drop in U.S. crude supplies. Traders also fretted over flagging compliance in an oil-producer with a key production-cut agreement, amid growing speculation that parties to the OPEC-led pact will extend it past March 2018. At the MCX, crude oil futures for October 2017 contract closed at Rs 3264 per barrel, down by 1.42 per cent, after opening at Rs 3287, against a previous close of Rs 3311. It touched the intra-day low of Rs 3248.
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