Crude oil futures higher on supply fears
17/06/2014 11:52
Crude oil futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity amid concerns that deepening unrest in Iraq may disrupt crude supplies from OPEC’s second biggest oil producer. Investors are eying the US crude oil supplies data to be released tomorrow which may show that US crude oil stockpiles fell 750,000 barrels last week, signaling improving fuel demand in the world’s biggest crude oil consumer. At the MCX, Crude Oil futures, for the June 2014 contract, is trading at Rs 6,436 per barrel, up by 0.23 per cent, after opening at Rs 6,434, against a previous close of Rs 6,421. It touched an intra-day high of Rs 6,443. (At 11:10 AM).
17/06/2014 11:52
Crude oil futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity amid concerns that deepening unrest in Iraq may disrupt crude supplies from OPEC’s second biggest oil producer. Investors are eying the US crude oil supplies data to be released tomorrow which may show that US crude oil stockpiles fell 750,000 barrels last week, signaling improving fuel demand in the world’s biggest crude oil consumer. At the MCX, Crude Oil futures, for the June 2014 contract, is trading at Rs 6,436 per barrel, up by 0.23 per cent, after opening at Rs 6,434, against a previous close of Rs 6,421. It touched an intra-day high of Rs 6,443. (At 11:10 AM).
