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Crude oil futures closed higher in the domestic market on Thursday after data released a day earlier showed a surprise decline in U.S. gasoline supplies, along with strong weekly demand for the fuel.
Analyst said the figures helped to offset the second-largest weekly climb on record in crude inventories.
At the MCX, crude oil futures for February 2016 contract closed at Rs 3547 per barrel, up by 0.94 per cent, after opening at Rs 3523, against a previous close of Rs 3514. It touched the intra-day high of Rs 3554.
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Crude oil futures closed higher in the domestic market on Thursday after data released a day earlier showed a surprise decline in U.S. gasoline supplies, along with strong weekly demand for the fuel.
Analyst said the figures helped to offset the second-largest weekly climb on record in crude inventories.
At the MCX, crude oil futures for February 2016 contract closed at Rs 3547 per barrel, up by 0.94 per cent, after opening at Rs 3523, against a previous close of Rs 3514. It touched the intra-day high of Rs 3554.
