Register For Free Commodity Tips Trial: http://rupeedesk.in/rupeedeskfree-calls
Crude oil futures closed higher in the domestic market on Tuesday as traders continued to weigh the outlook for global crude production.
Oil futures have been trading in a narrow range over the past month as traders await further updates on the progress in production cuts by the Organization of the Petroleum Exporting Countries and other major crude producers who are part of an agreement that kicked in at the start of the year. OPEC members had agreed to cut output amounting to about 1 per cent of global production, but uncertainty remains over their commitment to the pact.
At the MCX, crude oil futures for February 2016 contract closed at Rs 3635 per barrel, up by 0.53 per cent, after opening at Rs 3621, against a previous close of Rs 3616. It touched the intra-day high of Rs 3658.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
Crude oil futures closed higher in the domestic market on Tuesday as traders continued to weigh the outlook for global crude production.
Oil futures have been trading in a narrow range over the past month as traders await further updates on the progress in production cuts by the Organization of the Petroleum Exporting Countries and other major crude producers who are part of an agreement that kicked in at the start of the year. OPEC members had agreed to cut output amounting to about 1 per cent of global production, but uncertainty remains over their commitment to the pact.
At the MCX, crude oil futures for February 2016 contract closed at Rs 3635 per barrel, up by 0.53 per cent, after opening at Rs 3621, against a previous close of Rs 3616. It touched the intra-day high of Rs 3658.
