Breaking News

You are here » Indian-Commodity  :  Commodities  :  Crude Oil  :  Crude oil futures end higher on Friday


Crude oil futures end higher on Friday

Crude oil futures ended higher on Friday, supported by the Organization of the Petroleum Exporting Countries (OPEC)-led supply cuts and amid easing concerns about growth in the world's largest economy aided by upbeat US jobs data. Rising optimism about US-China trade talks also supported the oil prices. Besides, Brent crude settled above the psychologically important $70-a-barrel threshold as traders remained focused on signs of tightening global supplies. Meanwhile, a private data showed rise in US crude inventories last week and a report from Baker Hughes said that the number of US oil rigs rose this week after declining in the previous six weeks.

Benchmark crude oil futures for May surged 98 cents or 1.6 percent to settle at $63.08 a barrel on the New York Mercantile Exchange. June Brent crude rose 94 cents or 1.4 percent to settle at $70.34 a barrel on London's Intercontinental Exchange.

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)......