Breaking News

You are here » Indian-Commodity  :  Commodities  :  Crude Oil  :  Crude oil futures bounce back ahead of inventory data


Crude oil futures bounce back ahead of inventory data

Crude oil futures turned higher on Wednesday ahead of the inventory data and as ongoing anti-government protests in Iran raised the prospect of supply disruptions. Iran's elite Revolutionary Guards reportedly deployed forces to three provinces in an effort to quell anti-government unrest. The prospect of fresh supply disruption has offset the impact of pipeline restarts in both Libya and North Sea. Meanwhile, the American Petroleum Institute was slated to report its stockpiles survey in afternoon, followed by the Energy Information Administration's weekly report next day.

Benchmark crude oil futures for January delivery ended higher by $1.26 or 2.1 percent at $61.63 a barrel on the New York Mercantile Exchange. Brent crude for March delivery was up by 1.89 percent to $67.84 a barrel on the ICE.

Related News

View all news

Crude oil futures end higher on Thursday

Crude oil futures ended higher on Thursday with marginal gains for the truncated week, as traders weighing near term crude supply and demand prospects. Oil prices took some support with tighter supply......

Crude oil futures trade tad lower on MCX

Crude oil futures traded marginally lower on MCX, as speculators reduced their bets despite firm trend in overseas markets after the Energy Information Administration (EIA) reported the first drawdown......

Mentha oil futures edge higher on improved demand

Mentha oil futures edged higher on MCX as speculators raised their bets, driven by improved demand from consuming industries at the domestic spot market. Further, lower arrivals from the major producing......

Top News

View all news

Lupin seeks more time from commerce ministry to complete project in Indore SEZ

Lupin has sought more time from the commerce ministry to complete its project, with proposed investment of Rs 205.69 crore, in the Indore Special Economic Zone (SEZ). The company is setting up its pharma......

Tata Sponge Iron to shift its registered office to Kolkata

Tata Sponge Iron has decided to shift its registered office from Keonjhar in Odisha to Kolkata, subject to the approval of the members of the company and other regulatory authorities. The company has also......

GVK Power's arms ink pact with ADIA, NIIF

GVK Power and Infrastructure's subsidiaries -- GVK Airports Developer (GVKADL) and GVK Airport Holdings (GVKAHL) have signed a term sheet and exclusivity agreement with Abu Dhabi Investment Authority (ADIA)......