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| Mcx crude tips & updates |
Mcx crude tips : Crude oil futures spiked more than 2 per-cent in the native market on Friday last week as investors and speculators booked fresh positions in the energy commodity tracking a positive trend in the overseas market as a seventh straight drop in United States weekly rig count signaled lower production ahead in the world’s biggest oil consuming nation, easing concerns over a world wide supply glut.
Investors shrugged off mixed US(United States) economic data which showed a second straight drop in factory output in September month but consumer sentiment improved current month, signaling uncertainty over the demand outlook for the fuel in the world’s largest economy.
US manufacturing production fell 0.1 per-cent in Sep 2015 from the previous month, while industrial outcome declined 0.2 per-cent. Moreover, the gauge measuring US(United States) consumer sentiment climbed to 92.1 in October, the first increase in 4 months, from 87.2 in Sep.
Oil may fall today as the slowest expansion in China’s GDP growth since Q1 2009 in Q3 2015 signals diminished demand prospects from the world’s second biggest oil consuming nation.
At the MCX, October 2015 contract for Crude oil futures for the, closed at Rs 3,055 per barrel, up by 2.31 per cent, after opening at Rs 3,008, in against with the previous closing price of 2,986. It reached an intraday high of Rs 3,075.
Investors shrugged off mixed US(United States) economic data which showed a second straight drop in factory output in September month but consumer sentiment improved current month, signaling uncertainty over the demand outlook for the fuel in the world’s largest economy.
US manufacturing production fell 0.1 per-cent in Sep 2015 from the previous month, while industrial outcome declined 0.2 per-cent. Moreover, the gauge measuring US(United States) consumer sentiment climbed to 92.1 in October, the first increase in 4 months, from 87.2 in Sep.
Oil may fall today as the slowest expansion in China’s GDP growth since Q1 2009 in Q3 2015 signals diminished demand prospects from the world’s second biggest oil consuming nation.
At the MCX, October 2015 contract for Crude oil futures for the, closed at Rs 3,055 per barrel, up by 2.31 per cent, after opening at Rs 3,008, in against with the previous closing price of 2,986. It reached an intraday high of Rs 3,075.
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