Crude oil dips on rising US crude supply
26/10/2017
Crude oil futures closed lower in the domestic market on Wednesday as crude supplies marked their first rise in five weeks, but data also revealed hefty declines in both gasoline and distillate stockpiles.
The U.S. Energy Information Administration Wednesday reported that domestic crude supplies rose by 900,000 barrels for the week ended Oct. 20. The increase follows four weekly declines in a row.
At the MCX, crude oil futures for November 2017 contract closed at Rs 3386 per barrel, down by 1.31 per cent, after opening at Rs 3427, against a previous close of Rs 3431. It touched the intra-day low of Rs 3376.
26/10/2017
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Crude oil futures closed lower in the domestic market on Wednesday as crude supplies marked their first rise in five weeks, but data also revealed hefty declines in both gasoline and distillate stockpiles.
The U.S. Energy Information Administration Wednesday reported that domestic crude supplies rose by 900,000 barrels for the week ended Oct. 20. The increase follows four weekly declines in a row.
At the MCX, crude oil futures for November 2017 contract closed at Rs 3386 per barrel, down by 1.31 per cent, after opening at Rs 3427, against a previous close of Rs 3431. It touched the intra-day low of Rs 3376.
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