Crude Oil Dips On Rising US Crude Supply

Crude oil futures closed lower in the domestic market on Thursday as traders focused on the persistent oversupply of crude in the global market that has weighed on prices in recent years.

The record in U.S. stockpiles of crude oil reported Wednesday fed concerns over a global glut of supplies, despite expectations that U.S. demand for gasoline is set to grow in the run up to the summer driving season.

At the MCX, crude oil futures for April 2016 contract closed at Rs 3144 per barrel, down by 0.63 per cent, after opening at Rs 3177, against a previous close of Rs 3164. It touched the intra-day low of Rs 3130.

For Quick Trial – 8962000225 ✔
or mail us here:
✆ - 0731-6626222 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717

Suhani Verma

  • Image
  • Image
  • Image
    Blogger Comment
    Facebook Comment