Mcx crude tips for today : Crude oil futures transpierce by more than 1 per-cent in the native market on Friday last week as investors observers & speculators booked fresh positions in the energy commodity tracking a bullish trend in the overseas market amid signs that United States drillers are curbing production due to an oil price slump, easing concerns over a world wide supply glut.
Baker Hughes told that the number of rigs drilling for oil in the US(United States) fell by 16 to its lowest level since June 2010 to 578 previous week, marking the 9th straight drop.
A rise in US consumer sentiment and household spending signaled bright consumer demand prospects from the world’s biggest economy, boding well for oil. Today, Oil may fall as a continued factory collapsed in China, the world’s 2nd largest oil consumer, clouds the requirement outlook for the fuel.
November 2015 contract for Crude oil futures, closed at Rs 3,068 per barrel, up by 1.32 per cent, after opening at Rs 3,013, in against the last closing price of Rs 3,028 at the MCX. It reached an intraday high of Rs 3,076.
Baker Hughes told that the number of rigs drilling for oil in the US(United States) fell by 16 to its lowest level since June 2010 to 578 previous week, marking the 9th straight drop.
A rise in US consumer sentiment and household spending signaled bright consumer demand prospects from the world’s biggest economy, boding well for oil. Today, Oil may fall as a continued factory collapsed in China, the world’s 2nd largest oil consumer, clouds the requirement outlook for the fuel.
November 2015 contract for Crude oil futures, closed at Rs 3,068 per barrel, up by 1.32 per cent, after opening at Rs 3,013, in against the last closing price of Rs 3,028 at the MCX. It reached an intraday high of Rs 3,076.
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