Breaking News

You are here » Indian-Commodity  :  Commodities  :  Crude Oil  :  Crude oil futures decline on demand concerns

19-Feb2019

Crude oil futures decline on demand concerns

Crude oil futures declined on MCX as speculators reduced their bets, tracking weak international oil market on caution that economic growth may dent fuel demand this year. Though, global oil markets remain relatively tight because of supply cuts led by the Middle East dominated Organization of the Petroleum Exporting Countries (OPEC), with top crude exporter Saudi Arabia cutting the most, capped some losses.

The contract for February delivery was trading at Rs 3986.00, down by 0.62% or Rs 25.00 from its previous closing of Rs 4011.00. The open interest of the contract stood at 10227 lots.

The contract for March delivery was trading at Rs 4036.00, down by 0.35% or Rs 14.00 from its previous closing of Rs 4050.00. The open interest of the contract stood at 5170 lots on MCX.


Related News

View all news

Crude oil futures trade down on profit booking

Crude oil futures traded down on MCX as speculators booked their profits at prevailing higher levels. Meanwhile, Crude oil at overseas markets was trading firm on expectations for a continued dovish statement......

Mentha oil futures trade down on lower demand

Mentha oil futures traded lower on MCX, as speculators trimmed their positions on account of lower demand from consuming industries at the domestic spot market. Further, ample stocks on higher supplies......

Crude oil futures settle higher as OPEC looks to stick to output cuts through June

Crude oil futures ended higher on Monday as Organization of the Petroleum Exporting Countries (OPEC) and its allies looked set to continue their crude production cuts until June. The Joint Ministerial......

Top News

View all news

Ladam Affordable Housing to enhance limits of Corporate Guarantee given to AU Small Finance Bank

Ladam Affordable Housing has decided to enhance the limits of Corporate Guarantee given to AU Small Finance Bank from Rs 15 crore to Rs 18.5 crore for the purpose of financing the business/ business related......

Govind Poy Oxygen planning to enter into lease agreement

Govind Poy Oxygen is planning to enter into Lease Agreement with Babaso Anandrao Budhale, for lease of land and building for the use of the company and agreement with Nasik Oxygen Company, to give machinery......

RIL's telecom arm terminates agreement with Reliance Communications

Reliance Industries' (RIL) telecom arm -- Reliance Jio Infocomm (Jio) has terminated Master Agreement and Spectrum Trading Agreement executed between the company and Reliance Communications and its affiliates......