Crude oil futures rise as US crude stockpiles dip
21/05/2014 11:14
Crude oil futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as US crude oil stockpiles fell last week, signaling a pickup in demand for the fuel in the world’s biggest crude oil consumer.
The API reported a 10.3 million barrels dip in US crude oil stockpiles last week.
The US Energy Department will report separate inventory data today which may show that crude oil stockpiles may have stood unchanged last week.
At the MCX, Crude Oil futures, for the June 2014 contract, is trading at Rs 6,077 per barrel, up by 1.03 per cent, after opening at Rs 6,031, against a previous close of Rs 6,015. It touched an intra-day high of Rs 6,090. (At 11:47 AM).
21/05/2014 11:14
Crude oil futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as US crude oil stockpiles fell last week, signaling a pickup in demand for the fuel in the world’s biggest crude oil consumer.
The API reported a 10.3 million barrels dip in US crude oil stockpiles last week.
The US Energy Department will report separate inventory data today which may show that crude oil stockpiles may have stood unchanged last week.
At the MCX, Crude Oil futures, for the June 2014 contract, is trading at Rs 6,077 per barrel, up by 1.03 per cent, after opening at Rs 6,031, against a previous close of Rs 6,015. It touched an intra-day high of Rs 6,090. (At 11:47 AM).
