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Friday 14 October 2016

Crude oil up as US output dips : 14 Oct 2016

Crude oil futures were trading higher in the domestic market on Friday in the wake of a U.S. government report that revealed the first weekly rise in crude supplies since the end of August, but also a drop in output for the lower 48 states to the lowest level in over two years.

At the MCX, crude oil futures for October 2016 contract was trading at Rs 3404 per barrel, up by 1.16 per cent, after opening at Rs 3386, against a previous close of Rs 3365. It touched the intra-day high of Rs 3415


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