Crude oil dips on rise in crude supply
13/10/2017
Crude oil futures closed lower in the domestic market on Thursday after the International Energy Agency reported a monthly rise in global crude supplies. The International Energy Agency also reported on Thursday that global oil supply rose in September, while demand growth slowed.
Global oil supply growth in September was mainly driven by production in the U.S., despite disruptions caused by the hurricane season, as well as output in the North Sea and Kazakhstan.
At the MCX, crude oil futures for October 2017 contract closed at Rs 3291 per barrel, down by 1.67 per cent, after opening at Rs 3330, against a previous close of Rs 3347. It touched the intra-day high of Rs 3330.
13/10/2017
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Crude oil futures closed lower in the domestic market on Thursday after the International Energy Agency reported a monthly rise in global crude supplies. The International Energy Agency also reported on Thursday that global oil supply rose in September, while demand growth slowed.
Global oil supply growth in September was mainly driven by production in the U.S., despite disruptions caused by the hurricane season, as well as output in the North Sea and Kazakhstan.
At the MCX, crude oil futures for October 2017 contract closed at Rs 3291 per barrel, down by 1.67 per cent, after opening at Rs 3330, against a previous close of Rs 3347. It touched the intra-day high of Rs 3330.
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