Wednesday, 21 December 2016

Crude oil rises ahead of US inventories data : 21 Dec 2016


Crude oil futures closed higher in the domestic market on Tuesday ahead of weekly supply updates on U.S. inventories.

However, doubts about the agreement by OPEC and non-OPEC producers to keep output restrained continues to weigh on investor sentiment.

At the MCX, crude oil futures for January 2016 contract closed at Rs 3640 per barrel, up by 0.61 per cent, after opening at Rs 3603, against a previous close of Rs 3618. It touched the intra-day high of Rs 3672.

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