Breaking News

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

14-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 global markets where it fell from last week's multi-year highs as resistance emerged in Europe and Asia to US sanctions against major crude exporter Iran, while a relentless climb in US drilling activity pointed to further increases in output. US drillers added 10 oil rigs in the week to May 11, bringing the total count to 844, the highest level since March 2015.

The contract for May delivery was trading at Rs 4743.00, down by 1.04% or Rs 50.00 from its previous closing of Rs 4793.00. The open interest of the contract stood at 18924 lots.

The contract for June delivery was trading at Rs 4755.00, down by 1% or Rs 48.00 from its previous closing of Rs 4803.00. The open interest of the contract stood at 2793 lots on MCX.


Related News

View all news

Crude oil futures end lower on Tuesday

Crude oil prices edged lower on Tuesday, as traders waited to see if relations between the U.S. and Saudi Arabia sour further following the disappearance of a journalist in Turkey. Worsening tensions between......

Crude oil futures trade higher on firm trend overseas

Crude oil futures traded higher on MCX as speculators enlarged their positions following firm trend overseas amid supply concerns stemming from the growing tension between the US and Saudi Arabia, but......

Crude oil futures end higher on Monday

Crude oil futures ended higher for second straight session on Monday amid speculation about a likely drop in demand due to the impact of the US-China trade dispute on global economic growth. President......

Top News

View all news

Hero MotoCorp achieves best ever sales performance in Q2 FY19

Hero MotoCorp has achieved its best-ever sales performance for the second quarter of any financial year, selling 21,34,051 units of two-wheelers in Q2 FY19.For the period April-September 2018, Hero MotoCorp......

Mahindra CIE Automotive reports 74% rise in Q3 net profit

Mahindra CIE Automotive has reported results for third quarter ended September 30, 2018.The company has reported 73.80% rise in its net profit at Rs 42.58 crore for the quarter under review as compared......

Infosys crosses $2 billion large deal signings in Q2 FY19

Infosys has crossed $2 billion large deal signings in Q2 FY19. Besides, the company's digital revenues stood at $905 million in Q2 FY19 (31.0% of total revenues), year-on-year growth of 33.5% and sequential......