Crude oil down on rise crude inventories
16/11/2017
Crude oil down on rise crude inventories
16/11/2017 07:36
Crude oil futures closed lower in the domestic market on after the EIA reported a surprise climb in US domestic crude inventories for a second week in a row. Fresh insight on the state of the oil market came from the IEA, which in its monthly report cut its crude-demand outlook by 100,000 barrels a day for 2017 and 2018. The U.S. Energy Information Administration reported on Wednesday that domestic crude supplies rose by 1.9 million barrels for the week ended Nov. 10. That was contrary to the forecast for a decline of 1 million barrels from analysts. At the MCX, crude oil futures for November 2017 contract closed at Rs 3624 per barrel, down by 0.41 per cent, after opening at Rs 3611, against a previous close of Rs 3639. It touched the intra-day low of Rs 3587.
16/11/2017
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Crude oil down on rise crude inventories
16/11/2017 07:36
Crude oil futures closed lower in the domestic market on after the EIA reported a surprise climb in US domestic crude inventories for a second week in a row. Fresh insight on the state of the oil market came from the IEA, which in its monthly report cut its crude-demand outlook by 100,000 barrels a day for 2017 and 2018. The U.S. Energy Information Administration reported on Wednesday that domestic crude supplies rose by 1.9 million barrels for the week ended Nov. 10. That was contrary to the forecast for a decline of 1 million barrels from analysts. At the MCX, crude oil futures for November 2017 contract closed at Rs 3624 per barrel, down by 0.41 per cent, after opening at Rs 3611, against a previous close of Rs 3639. It touched the intra-day low of Rs 3587.
