Breaking News

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

16-Oct2018

Crude oil futures end higher on Monday

Crude oil futures ended higher for second straight session on Monday amid speculation about a likely drop in demand due to the impact of the US-China trade dispute on global economic growth. President Donald Trump threatened severe punishment if an investigation finds the kingdom in any way involved in the disappearance of dissident Saudi journalist Jamal Khashoggi, who was last seen entering the Saudi consulate in Istanbul on October 2. Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) lowered its global oil demand growth forecast for demand this year and next, as it showed rising OPEC and Russian production.

Benchmark crude oil futures for November gained 44 cents or 0.6 percent to settle at $71.78 a barrel on the New York Mercantile Exchange. December Brent crude was up by 35 cents or 0.4 percent to settle at $80.78 a barrel on London's Intercontinental Exchanged.


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)......