Crude oil rises on increasing global demand
19/02/2018
Crude oil rises on increasing global demand
19/02/2018 00:08
Crude oil futures closed higher in the domestic market on Friday as traders weighed demand expectations versus worries over rising U.S. shale oil output. Traders remain concerned about the amount of U.S. shale that could hit the market. The International Energy Agency earlier this week forecast that crude output from outside the Organization of the Petroleum Exporting Countries—mostly from U.S. shale—could surpass global demand this year. At the MCX, crude oil futures for February 2018 contract closed at Rs 3943 per barrel, up by 0.82 per cent, after opening at Rs 3937, against a previous close of Rs 3911. It touched the intra-day high of Rs 3972.
19/02/2018
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Crude oil rises on increasing global demand
19/02/2018 00:08
Crude oil futures closed higher in the domestic market on Friday as traders weighed demand expectations versus worries over rising U.S. shale oil output. Traders remain concerned about the amount of U.S. shale that could hit the market. The International Energy Agency earlier this week forecast that crude output from outside the Organization of the Petroleum Exporting Countries—mostly from U.S. shale—could surpass global demand this year. At the MCX, crude oil futures for February 2018 contract closed at Rs 3943 per barrel, up by 0.82 per cent, after opening at Rs 3937, against a previous close of Rs 3911. It touched the intra-day high of Rs 3972.
