Breaking News

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

24-May2018

Crude oil futures trade marginally lower on MCX

Crude oil futures traded marginally lower on MCX, pulled down by expectations that OPEC members could step up production in the face of worries over supply from both Venezuela and Iran. Further, a surprise increase in US weekly crude stockpiles also weighed on crude oil prices. Data released by the US Energy Information Administration showed US crude stocks rose 5.78 million barrels to 438.13 million barrels for the week ended May 18.

The contract for June delivery was trading at Rs 4899.00, down by 0.28% or Rs 14.00 from its previous closing of Rs 4913.00. The open interest of the contract stood at 21969 lots.

The contract for July delivery was trading at Rs 4906.00, down by 0.26% or Rs 13.00 from its previous closing of Rs 4919.00. The open interest of the contract stood at 885 lots on MCX.


Related News

View all news

Crude oil futures settle lower as US supplies climb for a fifth straight week

Crude oil futures settled lower on Thursday after a US government report revealed that domestic supplies climbed for a fifth straight week as production jumped to a record level. The Energy Information......

Crude oil futures end higher Wednesday

Crude oil futures ended higher on Wednesday as signs of tighter global crude supplies outweigh pressure from a continued rise in US production. Nigerian President Muhammadu Buhari is reportedly considering......

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......

Top News

View all news

Syndicate Bank enters into partnership with Srei Equipment Finance

Syndicate Bank has entered into partnership with Srei Equipment Finance to jointly provide financing for construction and farm equipment. Under the arrangement, Syndicate Bank would leverage on its low-cost......

Tata Motors to supply 80 Electric buses to West Bengal Transport Corporation

Tata Motors will supply 80 Electric buses to the West Bengal Transport Corporation (WBTC). The company has already supplied 20 Ultra Electric 9/9m AC E-buses, with remaining 20 9/9m AC E-buses scheduled......

BEL signs teaming agreement with Hughes India for Helicopter Satcom Solutions

Bharat Electronics (BEL) and Hughes India have entered into a Teaming Agreement for design, development, supply, installation, integration and commissioning of Satellite Communication solutions for helicopters......