Crude oil dips on drop in global stock market
06/02/2018
Crude oil dips on drop in global stock market
06/02/2018 07:40
Crude oil futures closed lower in the domestic market on Monday tracking a sharp drop in global stock markets, with a stronger dollar and rising U.S. crude production sending U.S. benchmark crude to its lowest finish in two weeks. Some of the tailwinds for the oil markets in recent weeks “have become headwinds, including the U.S. dollar bottoming out, and storage drawdowns turning into inventory builds. At the MCX, crude oil futures for February 2018 contract closed at Rs 4101 per barrel, down by 2.03 per cent, after opening at Rs 4166, against a previous close of Rs 4186. It touched the intra-day low of Rs 4086.
06/02/2018
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Crude oil dips on drop in global stock market
06/02/2018 07:40
Crude oil futures closed lower in the domestic market on Monday tracking a sharp drop in global stock markets, with a stronger dollar and rising U.S. crude production sending U.S. benchmark crude to its lowest finish in two weeks. Some of the tailwinds for the oil markets in recent weeks “have become headwinds, including the U.S. dollar bottoming out, and storage drawdowns turning into inventory builds. At the MCX, crude oil futures for February 2018 contract closed at Rs 4101 per barrel, down by 2.03 per cent, after opening at Rs 4166, against a previous close of Rs 4186. It touched the intra-day low of Rs 4086.
