Crude oil futures tad higher ahead of US data
27/05/2014 11:39
Crude oil futures were trading with slim gains in the domestic market on Tuesday as investors and speculators awaited key US economic data including consumer confidence, services and house prices which may signal strength in the US economy, lifting the demand outlook for the fuel, given that the country is the biggest crude oil consumer in the world.
Supply concerns continue to support the fuel as rebels in eastern Libya shut down two oil ports. Libya is the holder of Africa’s largest oil reserves.
At the MCX, Crude Oil futures, for the June 2014 contract, is trading at Rs 6,181 per barrel, up by 0.06 per cent, after opening at Rs 6,168, against a previous close of Rs 6,177. It touched an intra-day high of Rs 6,186. (At 11:19 AM).
27/05/2014 11:39
Crude oil futures were trading with slim gains in the domestic market on Tuesday as investors and speculators awaited key US economic data including consumer confidence, services and house prices which may signal strength in the US economy, lifting the demand outlook for the fuel, given that the country is the biggest crude oil consumer in the world.
Supply concerns continue to support the fuel as rebels in eastern Libya shut down two oil ports. Libya is the holder of Africa’s largest oil reserves.
At the MCX, Crude Oil futures, for the June 2014 contract, is trading at Rs 6,181 per barrel, up by 0.06 per cent, after opening at Rs 6,168, against a previous close of Rs 6,177. It touched an intra-day high of Rs 6,186. (At 11:19 AM).
