Crude oil futures ended lower in the domestic market on Wednesday after a U.S. government report revealed a bigger-than-expected weekly increase in crude inventories. Domestic production, meanwhile, showed decrease & with some in the market holding out hopes that major oil producers will take action to stabilize the market, oil prices managed to keep a sizable gain for the month.
At the MCX, Crude oil futures for September 2016 contract ended at Rs. 3002/barrel, downward by 3.94 %, after opening at Rs. 3129, against the last ending price of Rs. 3125. It touched the intra-day low of Rs. 2996.