Breaking News

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

23-May2018

Crude oil futures trade lower on weak global cues

Crude oil futures trade lower on MCX as speculators cut down their bets due to weak trend in the global markets where oil prices edged lower with the possibility of higher OPEC output weighing on the market, although geopolitical risks are expected to keep prices near multi-year highs.

The contract for June delivery was trading at Rs 4914.00, down by 0.3% or Rs 15.00 from its previous closing of Rs 4929.00. The open interest of the contract stood at 21810 lots.

The contract for July delivery was trading at Rs 4920.00, down by 0.32% or Rs 16.00 from its previous closing of Rs 4936.00. The open interest of the contract stood at 690 lots on MCX.

 


Related News

View all news

Mentha oil futures trade higher on pick-up in demand

Mentha oil futures traded higher on MCX, as participants increased their bets amid pick-up in demand from consuming industries at the spot market. Besides, tight stocks position on restricted supplies......

Crude oil futures exhibit mixed trend on MCX

Crude oil futures exhibited mixed trend on MCX. September contract gained as the crude supply is expected to lower due once US beings imposing economic sanctions against Iran in November, while October......

Crude oil futures end higher on Monday

Extending their gains for third straight session, Crude oil futures ended higher on Monday, a day ahead of the expiration of the September contracts, as US sanctions on Iran contributed to concerns over......

Top News

View all news

CG Power's JV inaugurates HV, EHV factory in Indonesia

CG Power and Industrial Solutions' (CG) joint venture (JV) PT CPSI has inaugurated Indonesia's first High Voltage (HV) and Extra High Voltage (EHV) factory at the Modern Cikande Industrial Estate, Banten......

MCX inks MoU with Indian Cotton Federation: Report

Multi Commodity Exchange of India (MCX) has reportedly signed memorandum of understanding (MoU) with Coimbatore-based Indian Cotton Federation (ICF). The agreement is to facilitate potential collaboration......

RIL's telecom arm tops Fortune's 'Change the World' list

Reliance Industries' (RIL) telecom arm -- Reliance Jio -- has ranked as the top company globally on Fortune's 'Change the World' list that ranked companies using the profit motive to tackle social problems......