Breaking News

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

10-Aug2018

Crude oil futures end marginally lower on Thursday

Crude oil futures ended marginally lower on Thursday, amid tempered expectations of lost Iranian supply even and fears that China - the second-largest economy and a big oil importer - may be signaling waning demand for oil. China's crude imports were lower in 2018 on account of waning appetite from the country's smaller independent, so-called teapot, refineries. Overall, investors wrestled with evidence of waxing inventories and waning demand, against geopolitical tensions that had threatened to push crude prices to new heights. Besides, Iran remained in focus following the US this week reimposed mostly financial sanctions on the nation. The renewed sanctions will not directly target Iranian oil until November, although Trump has reupped his call for as many countries as possible to cut their imports of Iranian crude to zero.

Benchmark crude oil futures for September declined 13 cents or 0.2 percent to settle at $66.81 a barrel on the New York Mercantile Exchange. October Brent crude lost 21 cents or 0.3 percent at $$72.07 a barrel on London's Intercontinental Exchange.


Related News

View all news

Crude oil futures end higher on Tuesday

After falling in previous session, Crude oil futures ended higher on Tuesday in the wake of a short-term disruption in Libyan output. Libya's national oil company has declared force majeure on exports......

Crude palm oil futures trade higher on short covering

Crude palm oil futures traded higher on MCX, with the covering of position at lower available prices. However, cheaper imports and steady demand is capping the up-trend.The contract for December delivery......

Crude oil futures end higher on Tuesday

After falling in previous session, Crude oil futures ended higher on Tuesday in the wake of a short-term disruption in Libyan output. Libya's national oil company has declared force majeure on exports......

Top News

View all news

NBCC receives LoA from Ministry of Skill Development and Entrepreneurship

NBCC (India) has received a Letter of Award (LoA) of work from Ministry of Skill Development and Entrepreneurship, Government of India for construction of office building i.e. Kaushal Bhawan at New Delhi.......

Phoenix Mills transfers its entire stake held in Insight to Island

Phoenix Mills has entered into a Share Purchase Agreement (SPA) with Insight Mall Developers, its wholly-owned subsidiary (Insight) and Island Star Mall Developers, its subsidiary (Island), for sale/disposal......

AGC Networks' arm incorporates subsidiary in New Zealand

AGC Networks' wholly owned subsidiary -- AGC Networks Australia Pty, Australia, has incorporated its subsidiary namely 'AGC Networks New Zealand' which is registered with the Registrar of Companies of......