Monday, 21 August 2017

Crude oil up on fall in US oil rigs : 21 Aug

               
      

                       Crude oil futures closed higher in the domestic market on Friday on the back of unconfirmed reports of a unit shutdown at one of the largest oil refineries in the U.S., as well as data showing a weekly fall in the number of active domestic oil rigs.

The Energy Information Administration on Wednesday reported a drop in weekly U.S. crude supplies that was the largest since September of last year, but it also said production rose for the week to its highest level since mid-July 2015.

At the MCX, crude oil futures for August 2017 contract closed at Rs 3105 per barrel, up by 2.78 per cent, after opening at Rs 3015, against a previous close of Rs 3021. It touched the intra-day high of Rs 3111.




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