Crude oil futures were trading lower in the domestic market on Thursday as investors and speculators exited positions in the energy commodity as data showing large weekly builds in the US petroleum products offset a surprise draw in crude stockpiles.
The US Energy Information Administration reported that crude inventories dropped 559,000 barrels during the week ended September 09 while analysts expected a build of 3.8 million barrels.
At the MCX, crude oil futures for September 2016 contract is trading at Rs 2,928 per barrel, down by 0.14 per cent, after opening at Rs 2,940, against a previous close of Rs 2,938. It touched the intra-day low of Rs 2,938
crude oil has short given @ 3029 , running profit ++100 pnt as per system.
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