Crude oil flat on Iraq uncertainty
03/10/2017
Crude oil futures closed flat in the domestic market on Friday as investors considered the potential fallout from the independence referendum in the oil-rich Kurdish region of Iraq. Recently prices have also received support from the Organization of the Petroleum Exporting Countries’ ongoing effort to eliminate about 2% of global supply with the help of external producers such as Russia. At the MCX, crude oil futures for October 2017 contract closed at Rs 3373 per barrel, down by 0.00 per cent, after opening at Rs 3400, against a previous close of Rs 3373. It touched the intra-day low of Rs 3356.
03/10/2017
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Crude oil futures closed flat in the domestic market on Friday as investors considered the potential fallout from the independence referendum in the oil-rich Kurdish region of Iraq. Recently prices have also received support from the Organization of the Petroleum Exporting Countries’ ongoing effort to eliminate about 2% of global supply with the help of external producers such as Russia. At the MCX, crude oil futures for October 2017 contract closed at Rs 3373 per barrel, down by 0.00 per cent, after opening at Rs 3400, against a previous close of Rs 3373. It touched the intra-day low of Rs 3356.
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