Breaking News

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

04-Jan2019

Crude oil futures end higher on Thursday

Extending their gains for fourth straight session, crude oil futures ended higher on Thursday as sentiment got boost after private surveys revealed monthly declines in crude output from major producers. Members of the Organization of the Petroleum Exporting Countries (OPEC) produced 32.68 million barrels of oil a day in December, down 460,000 barrels a day from a month earlier. The output fall came ahead of the reduction of 1.2 million barrels a day from October 2018 levels pledged by OPEC and nonmember producers, including Russia that became effective at the start of the New Year. However, Thursday's volatility across risk assets, including energy, is growth related and fears of a slowing global economy continue to be a major headwind on oil from a demand standpoint.

Benchmark crude oil futures for February gained 55 cents or 1.2 percent to settle $47.09 a barrel on the New York Mercantile Exchange. March Brent crude rose $1.04 or 1.9 percent to settle at $55.95 a barrel on London's Intercontinental Exchange.


Related News

View all news

Crude palm oil futures trade in green on rise in demand

Crude palm oil futures traded in green on MCX in line with the firm  trend in Malaysian palm oil prices. Moreover, rise in spot demand from domestic markets coupled with the worries on dip in......

Crude oil futures trade higher on MCX

Crude oil futures traded higher on MCX, as speculators enlarged positions after data showed refinery processing in China, the world's second-largest oil consumer, climbed to a record in 2018, despite a......

Crude oil futures end near 2-month high on Friday

Crude oil futures ended near 2-monht high on Friday, supported by  a report from the Organization of the Petroleum Exporting Countries (OPEC) members that showed the biggest monthly drop in crude......

Top News

View all news

Maruti Suzuki opens bookings for New Baleno

Maruti Suzuki India has opened bookings for the new edition of India's most preferred premium hatchback, Baleno. New Baleno, the style icon of Nexa has been refreshed with a fresh sense of premium-ness......

SpiceJet reports passenger load factor of 92.7% in December

SpiceJet has reported the Passenger Load Factor (PLF) of 92.7% during the month of December 2018. The company had reported PLF of 91.1% during the month of November 2018.The PLF is a key indicator of the......

InterGlobe Aviation reports passenger load factor of 88.9% in December

InterGlobe Aviation (IndiGo) has reported the Passenger Load Factor (PLF) of 88.9% during the month of December 2018. The company had reported PLF of 84.9% during November 2018. The PLF is a key indicator......