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22-Aug2017

Crude oil futures trade marginally higher on tightening supply

Crude oil futures traded marginally higher on MCX as speculators enlarged positions, lifted by indications that supply is gradually tightening, especially in the United States. US commercial crude inventories have fallen by almost 13 percent from their March peaks, to 466.5 million barrels.

The contract for September delivery was trading at Rs 3078.00, up by 0.42% or Rs 13.00 from its previous closing of Rs 3065.00. The open interest of the contract stood at 17105 lots.

The contract for October delivery was trading at Rs 3103.00, up by 0.52% or Rs 16.00 from its previous closing of Rs 3087.00. The open interest of the contract stood at 904 lots on MCX.

 


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