MCX Crude oil futures traded marginally lower on MCX Commodity as a massive increase in US fuel inventories and a slump in Chinese demand implied that global crude markets remain oversupplied despite OPEC-led efforts to cut output. As per The American Petroleum Institute (API) reported that US crude inventories rose 14.2 million barrels last week and gasoline climbed 2.9 million crude oil barrels.
The contract for February delivery was trading at Rs 3487.00, down by 0.37% or Rs 13.00 from its previous closing of Rs 3500.00. The open interest of the contract stood at 21195 lots.
The contract for March delivery was trading at Rs 3545.00, down by 0.31% or Rs 11.00 from its previous closing of Rs 3556.00. The open interest of the contract stood at 1599 lots on MCX.
No comments:
Post a Comment