Strong demand outlook lift Crude oil futures
10/06/2014 15:13
Crude oil prices rose by 0.40 per cent on Tuesday at the domestic markets after Italian industrial production rose more-than-expected last month signaling upbeat industrial activity in the region which raised the demand outlook for the fuel. Istat said that Italian Industrial Production rose to 0.7 per cent, from -0.4 per cent in the preceding month whose figure was revised up from -0.5 per cent. At the MCX, crude oil futures for June 2014 contract were trading at Rs. 6,206 per barrel, up by 0.40 per cent, after opening at Rs. 6,191 against the previous closing price of Rs. 6,181. It touched the intra-day high of Rs. 6,227 till the trading. (At 3.12 PM today). Sentiment improved further after China’s exports rose at a faster than expected pace in May, signaling an easing slowdown in the world’s second biggest economy, lifting the demand outlook for the fuel. China’s overseas shipments climbed 7 per cent in May 2014 from the same month a year ago
10/06/2014 15:13
Crude oil prices rose by 0.40 per cent on Tuesday at the domestic markets after Italian industrial production rose more-than-expected last month signaling upbeat industrial activity in the region which raised the demand outlook for the fuel. Istat said that Italian Industrial Production rose to 0.7 per cent, from -0.4 per cent in the preceding month whose figure was revised up from -0.5 per cent. At the MCX, crude oil futures for June 2014 contract were trading at Rs. 6,206 per barrel, up by 0.40 per cent, after opening at Rs. 6,191 against the previous closing price of Rs. 6,181. It touched the intra-day high of Rs. 6,227 till the trading. (At 3.12 PM today). Sentiment improved further after China’s exports rose at a faster than expected pace in May, signaling an easing slowdown in the world’s second biggest economy, lifting the demand outlook for the fuel. China’s overseas shipments climbed 7 per cent in May 2014 from the same month a year ago
