Crude oil futures slump on rise in US rig count
22/08/2016 15:33
Crude oil futures were trading lower during the afternoon trade in the domestic market on Monday as participants exited positions in the energy commodity amidst weak trend overseas. Further, trading sentiment eased at the futures trade after tracking global markets as investors booked profits on growing fear the rise in oil prices will prompt more US shale oil players to return to the oil patches. At the MCX, crude oil futures for September 2016 contract is trading at Rs 3,250 per barrel, down by 1.28 per cent, after opening at Rs 3,295, against a previous close of Rs 3,292. It touched the intra-day low of Rs 3,245 (at 15:19 hours).
22/08/2016 15:33
