Breaking News

You are here » Indian-Commodity  :  Commodities  :  Crude Oil  :  Crude oil futures trade higher on firm global cues

08-May2019

Crude oil futures trade higher on firm global cues

Crude oil futures traded higher on MCX as speculators enlarged their positions, tracking firm global crude oil prices on account of US sanctions against crude exporters Iran and Venezuela as well as ongoing supply cuts by producers have left markets relatively tight just as crude imports to China rose to a record for April.

The contract for May delivery was trading at Rs 4310.00, up by 1.08% or Rs 46.00 from its previous closing of Rs 4264.00. The open interest of the contract stood at 17447 lots.

The contract for June delivery was trading at Rs 4331.00, up by 1.05% or Rs 45.00 from its previous closing of Rs 4286.00. The open interest of the contract stood at 1063 lots on MCX.


Related News

View all news

Crude oil futures end lower on Monday

Crude oil futures ended lower on Monday as steep declines in the US stock market fed an aversion to so-called riskier assets, which include oil. Meanwhile, the US-China trade dispute escalated as China......

Crude oil futures end marginally lower as trade-war worries limit upside

Crude oil futures ended marginally lower on Friday as escalation in the trade war has put a return in global growth worries, which would translate to softer crude demand. The Trump administration early......

Crude oil futures end lower on Thursday

Crude oil futures ended lower on Thursday as hopes for a US-China trade deal faded. Meanwhile, crude-oil production by OPEC edged up by 30,000 barrels a day in April to 30.26 million barrels a day. However,......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......