Breaking News

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


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 as supplies tighten

Crude oil futures ended higher on Tuesday amid reports of falling Saudi Arabian exports. Crude-oil volumes shipped from major producer Saudi Arabia fell in the first half of February to 6.2 million barrels......

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......

Mentha oil futures trade lower on higher acreage

Mentha oil futures traded lower on MCX, as speculators trimmed their positions on expectations of higher acreage under mint due to lucrative prices throughout last year. Though, fall in inventory at exchange-accredited......

Top News

View all news

Tata Motors signs LTS agreement with its employees

Tata Motors has signed a long-term wage settlement (LTS) agreement with its employees. Under the agreement, workmen will get a wage rise of Rs 9,000 per month along with other incentives based on performance.......

Canara Bank invites bids from merchant bankers to manage its $350-500 million MTN issue: Report

Canara Bank has reportedly invited bids from merchant bankers to manage its $350-500 million issue of senior unsecured/tier-II capital bonds under its medium-term note (MTN) programme. The issue size may......

Alembic Pharma gets USFDA's nod for Acetazolamide Extended-Release Capsules

Alembic Pharmaceuticals (Alembic) has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Acetazolamide Extended-Release Capsules, 500......