Crude oil up on rising geopolitical tension
20/02/2018
Crude oil up on rising geopolitical tension
20/02/2018 07:22
Crude oil futures closed higher in the domestic market on Monday as investor appetite for riskier assets improved. An escalation in tensions in the Middle East also drove oil prices upward, with Israel’s Prime Minister Benjamin Netanyahu on Sunday warning that his country will directly strike oil producer Iran if Tehran uses Syria to test his country. The gains in oil prices could soon be tested by concerns over rising U.S. crude oil output, which is already at record highs. Should U.S. production and inventories continue to build in weekly data, prices could soon start easing. At the MCX, crude oil futures for March 2018 contract closed at Rs 4037 per barrel, up by 1.64 per cent, after opening at Rs 3995, against a previous close of Rs 3972. It touched the intra-day high of Rs 4048.
20/02/2018
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Crude oil up on rising geopolitical tension
20/02/2018 07:22
Crude oil futures closed higher in the domestic market on Monday as investor appetite for riskier assets improved. An escalation in tensions in the Middle East also drove oil prices upward, with Israel’s Prime Minister Benjamin Netanyahu on Sunday warning that his country will directly strike oil producer Iran if Tehran uses Syria to test his country. The gains in oil prices could soon be tested by concerns over rising U.S. crude oil output, which is already at record highs. Should U.S. production and inventories continue to build in weekly data, prices could soon start easing. At the MCX, crude oil futures for March 2018 contract closed at Rs 4037 per barrel, up by 1.64 per cent, after opening at Rs 3995, against a previous close of Rs 3972. It touched the intra-day high of Rs 4048.
